When preparing consolidated financial statements, the result of the elimination process generally is the
a. restatement of the cash balance of each company due to intercompany transactions.
b. presentation of only the transactions between the consolidated entity and others outside the entity.
c. replacement of the investment account and the subsidiary's shareholders' equity with only the parent's share of the individual assets and liabilities of the subsidiary.
d. posting the eliminations to both parent and subsidiary's accounts.
e. posting the eliminations to the subsidiary's accounts, only.
B
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