Consolidated financial statements combine the separate financial statements of the purchasing company and the acquired company into a single set of financial statements.

Question

Quizplus · Accepted Answer

Consolidated financial statements show the financial results of a group of companies as though they were a single entity. The financial statements of each subsidiary company are combined with those of the parent company in order to produce a set of consolidated financial statements.

Consolidated Financial Statements Combine the Separate Financial Statements of the Purchasing