The consolidated financial statements are primarily for the benefit of managers of the parent company.

Question

Quizplus · Accepted Answer

Consolidated financial statements are primarily prepared for the benefit of the shareholders, potential investors, creditors, and other stakeholders of the parent company and its subsidiaries, providing a comprehensive overview of the financial position and performance of the entire group of companies as a single entity.

The Consolidated Financial Statements Are Primarily for the Benefit of Managers