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  3. q.n.1 which of the following statements is incorre

Q.N.1 Which of the following statements is incorrect? Select one: Where consolidated financial...

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Accounting

Q.N.1 Which of the following statements is incorrect?

Select one:

Where consolidated financial statements are prepared over a number of years,

consolidation entries need to be made every time a consolidation worksheet is

prepared

Consolidation adjusting entries affect the ledger accounts of the parent and

subsidiaries

There are no consolidated ledger accounts

A consolidation worksheet is used to help the process of adding together the

financial statements of the parent and its subsidiaries

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