Which One of the Following Is Not a Change in a Reporting

question 24

Multiple Choice

Which one of the following is not a change in a reporting entity?

• A) the purchase of a new subsidiary
• B) presenting a consolidated statement for the first time
• C) changing the specific subsidiaries that make up the group of entities presented in the financial statements
• D) changing the entities in combined financial statements

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Definitions:

Chip Dip

A variety of sauces or seasonings into which chips are dipped to enhance their flavor.

Substitute Goods

Products or services that can serve as replacements for each other; when the price of one increases, the demand for the alternative typically increases.

Birth Rate

The number of live births per thousand people in a population over a given period of time.

Demand Curve

A graph showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at different prices.