The dividends account normally has a debit balance.
Answer the following statement true (T) or false (F)
True
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Consolidation adjustments that are made to prepare consolidated financial statements of the parent and subsidiary are required in order to:
A. follow tax laws. B. eliminate transactions with third parties. C. avoid double counting. D. obey the state laws.
Which of the following models are often a summary or restatement of the main points of the theory?
A) graphical models B) mathematical models C) verbal models D) technological models E) provisional models
Which of the following is NOT a drawback of waiting until the end to answer questions?
a. Audience members can have difficulty concentrating. b. Audience members may simply think about their question. c. Audience members might not remember their questions. d. Audience members may be able to distract you more easily.
Company A owns 80% of the voting shares of Company B, which in turn owns 70% of the shares of Company C. There are no outstanding conversion rights, warrants or options which would enable holders of other instruments to acquire additional voting shares of any of these companies. In this scenario, which of the following statements is TRUE?
A) Company A has direct control over Company C. B) Control cannot be determined from the information given. C) Company A has no control over Company C because it does not own any shares of Company C. D) Company A has indirect control over Company C.