Consolidation entries are never posted to a general ledger.

Name: Consolidation entries are never posted to a general ledger.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consolidation entries are adjustments made in the process of preparing consolidated financial statements for a group of companies. They are not posted to the general ledger of any individual company but are used to adjust and eliminate intercompany transactions and balances to present the financial position and results of the group as a single economic entity.

Consolidation Entries Are Never Posted to a General Ledger