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Which of the following statements is not true about intercompany accounting? A. Intercompany transactions...

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Accounting

Which of the following statements is not true about intercompany accounting?

A. Intercompany transactions are between two units within the same legal entity.

B. Intercompany transactions are eliminated in consolidated parent financial statements.

C. They can significantly impact taxes.

D. Intercompany transactions are between different legal entities under the same parent control.

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