Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Using Your Judgment - Financial Reporting Problem - Page 254: a

Answer

To prepare its consolidated balance sheet, P & G uses the report format. The format is more ideal than the account format.

Work Step by Step

To prepare its consolidated balance sheet, P & G uses the report format. The format is more ideal than the account format.
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