?? Theconsolidationmethodofaccounting is used when ownership is?A) Less than 20%B) Between 20% and 50%C) More than 50%D) Exactly 50%

Explanation of Consolidation Method :The consolidation method is an accounting technique where a…

Answered: The consolidation method of accounting…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 1EA: Match the correct term with its definition. A. cost principle i. if uncertainty in a potential...

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Match the correct term with its definition. A. cost principle i. if uncertainty in a potential financial estimate, a company should err on the side of caution and report the most conservative amount B. full disclosure principle ii. also known as the historical cost principle, states that everything the company owns or controls (assets) must be recorded at their value at the date of acquisition C. separate iii. (also referred to as the matching principle) matches expenses with associated revenues in the period in which the revenues were generated. D. monetary iv. business must report any business activities that could affect what is reported on the financial statements E. conservatism v. system of using a monetary unit by which to value the transaction, such as the US dollar. F. revenue vi. period of time in which you performed the service or gave the customer the product is the period in which revenue is recognized. G. expense vii. business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally.
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9781947172685

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The consolidation method of accounting is used when ownership is? A) Less than 20% B) Between 20% and 50% C) More than 50% D) Exactly 50%