In consolidated financial statements:
A) the parent's and subsidiary's financial statements are reported on a separate basis.
B) the parent's and subsidiary's financial statements are reported on a combined basis.
C) financial statements are reported on an industry-wide basis.
D) None of these.

Question

Quizplus · Accepted Answer

Consolidated financial statements combine the financial statements of the parent company and its subsidiaries into one set of financial statements, reflecting the financial position and results of the entire group as a single entity.

In Consolidated Financial Statements