Under the parent company concept, consolidated net income __________ the consolidated net income under the economic unit concept.
A) is the same as
B) is higher than
C) is lower than
D) can be higher or lower than

Question

Quizplus · Accepted Answer

Under the parent company concept, consolidated net income is the same as under the economic unit concept because both concepts ultimately aim to present the financial performance of the parent and its subsidiaries as a single economic entity, despite differences in their theoretical approaches to consolidation.

Under the Parent Company Concept, Consolidated Net Income __________ the Consolidated