Consistent with the entity concept,full consolidation requires that:
A) the parent ownership proportion of the subsidiary income, expenses, assets, liabilities and equity are included in the consolidated financial statements.
B) the non-controlling ownership interests are included in the consolidated financial statements.
C) the full amount of income, expenses, assets, liabilities and equity are included in the consolidated financial statements.
D) none of the above.

Question

Quizplus · Accepted Answer

Full consolidation involves including the entire amount of the subsidiary's income, expenses, assets, liabilities, and equity in the consolidated financial statements, reflecting the entity concept where the parent and subsidiary are viewed as a single economic entity.

Consistent with the Entity Concept,full Consolidation Requires That