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What portion of the advance should be eliminated

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Question 1: A Ltd owns 60% of B Ltd's equity stocks. On May 1, 2009, A Ltd advanced N70,000 in cash to B Ltd, which was still outstanding at 31 December,2009. What portion of this advance should be eliminated in the preparation of the 31 December,2009 consolidated financial statement

Reference no: EM132578371

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