What Subsidiary type is used to eliminate revenue and expenses at the consolidated level, removing the effect of transactions between subsidiaries?
What Subsidiary type is used to eliminate revenue and expenses at the consolidated level, removing the effect of transactions between subsidiaries?
The appropriate subsidiary type used to eliminate revenue and expenses at the consolidated level, removing the effect of transactions between subsidiaries, is the Elimination Subsidiary. This subsidiary is specifically designed for the purpose of handling intercompany transactions to ensure accurate consolidated financial statements.
answer A
When subsidiaries transact, you may have to eliminate the revenue and expenses at the consolidated level to remove the effect of transactions between subsidiaries. https://suiteanswers.custhelp.com/app/answers/detail/a_id/9867/loc/en_US
https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N268759.html#Elimination-Subsidiaries