All consolidation adjusting entries must be repeated in subsequent accounting periods.

Name: All consolidation adjusting entries must be repeated in subsequent accounting periods.
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Question

Quizplus · Accepted Answer

Consolidation adjusting entries are specific to the period in which they are made and are not automatically repeated in subsequent periods. Each period may require different adjustments based on the intercompany transactions and changes in the financial relationships between the parent and subsidiary.

All Consolidation Adjusting Entries Must Be Repeated in Subsequent Accounting