Which of the following is NOT omitted from the consolidated accounts?
A) Interest owing to parent company by subsidiary company
B) Intercompany sales
C) Management fees charged to the subsidiary by the parent company
D) None of the above - they are all omitted

Question

Quizplus · Accepted Answer

None of the options are omitted from consolidated accounts. Interest owing to parent company by subsidiary company and management fees charged to the subsidiary by the parent company are eliminated as part of the consolidation process, while intercompany sales are eliminated as they represent transactions within the group and not against external entities.

Which of the Following Is NOT Omitted from the Consolidated