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In preparing consolidated working papers, beginning retained earnings of the parent company will be adjusted in years subsequent to acquisition with an elimination entry whenever:

a) a noncontrolling interest exists.

b) it does not reflect the equity method.

c) the cost method has been used only.

d) the complete equity method is in use.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M987065

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