Consolidation procedures are applied to controlling ownership interests in Variable Interest Entities.

Question

Consolidation procedures are applied to controlling ownership interests in Variable Interest Entities.​

Quizplus · Accepted Answer

Consolidation procedures are used to consolidate the financial statements of a company and its subsidiaries, including Variable Interest Entities. These procedures help to ensure that the controlling interest and financial position of the company are accurately represented in the consolidated financial statements.

Consolidation Procedures Are Applied to Controlling Ownership Interests in Variable