Intra-group transactions between entities in a group are necessary adjustments as part of consolidation process...
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Accounting
Intra-group transactions between entities in a group are necessary adjustments as part of consolidation process so that the:
a. consolidated revenues are earned from both transactions with entities external to the group or within the group
b. consolidated profits reflects the profits made by the parent
c. consolidated assets are recorded at the cost to the group rather than the cost to the entity that owns them
d. consolidated liabilities represents obligations of all subsidiaries to entities external to the group
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