Both the parent company concept and the economic unit concept are full consolidation approaches.

Name: Both the parent company concept and the economic unit concept are full consolidation approaches.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both the parent company concept and the economic unit concept are considered full consolidation approaches because they involve combining the financial statements of a parent company and its subsidiaries into a single set of financial statements, as if they were a single economic entity.

Both the Parent Company Concept and the Economic Unit Concept