Question

Which of the following is a reason to prepare

Q: Answer-Which of the following is a reason to prepare consolidated financial statements?

The primary objective of consolidation is to present the financial position and performance of a parent and its subsidiaries as if they were a single economic entity.

consolidated financial statements?

A To present combined financial position of parent and subsidiaries as single economic entity where control exists

B Only to comply with tax law

C Only when both companies are listed

D Only when parent has more than 90% shareholding

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Solution