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    Question

    Which of the following is true regarding consolidated

    financial statements?
    A Parent must consolidate only if it owns >50% voting rights or controls the subsidiary Correct Answer Incorrect Answer
    B Consolidate only if both companies listed Correct Answer Incorrect Answer
    C Consolidation never required for government entities Correct Answer Incorrect Answer
    D Consolidation optional even when control exists Correct Answer Incorrect Answer
    E Parent consolidates only when subsidiary profitable Correct Answer Incorrect Answer

    Solution

    Control, usually via >50% voting rights, requires consolidation per Ind AS 110.

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