Financial statements in which financial data for two or more companies are combined as a single entity are called
A) conventional statements
B) consolidated statements
C) audited statements
D) constitutional statements

Question

Quizplus · Accepted Answer

Consolidated statements combine the financial data of two or more companies into a single entity. This is typically done when there is a parent company and one or more subsidiary companies. The consolidated statements provide a more complete picture of the financial performance and position of the entire group.

Financial Statements in Which Financial Data for Two or More