On the date that a company acquires a subsidiary,which consolidated financial statement(s)must be prepared?
A)Consolidated statement of financial position
B)Consolidated statement of financial position and consolidated statement of comprehensive income
C)Complete set of consolidated financial statements
D)No consolidated financial statements are required at the acquisition date

Question

Quizplus · Accepted Answer

On the acquisition date, a consolidated statement of financial position is required to reflect the financial position of the combined entity. Other statements are prepared at the end of the reporting period.

On the Date That a Company Acquires a Subsidiary,which Consolidated