2. Differentiate between the consolidated balance sheet and the holding company’s balance sheet.
3. When, in the case of partial ownership of the subsidiaries, does the consolidated balance sheet reflect true condition?
4. State fully how partial ownership may best be shown.
5. How are intercompany accounts handled on the consolidated balance sheet?
6. How are the various inventories valued for the consolidated balance sheet?
7. Explain the manner of showing capital stock on the consolidated balance sheet.
8. Explain the manner of showing surplus (or deficit) on the consolidated balance sheet.
9. Explain how the consolidated profit and loss summary should be drawn up. How does it differ from the holding company’s profit and loss summary?
Chapter XXXV
1. Distinguish between assignee, receiver, and trustee, and state their respective duties.