In Order That the Consolidated Financial Statements Present Financial Information

question 11

Multiple Choice

In order that the consolidated financial statements present financial information about the group as that of a single economic entity,which of the following steps are taken:

• A)non- controlling interests in the net assets of consolidated subsidiaries are identified separately from the parent shareholders' equity in them
• B)non- controlling interests in the profit or loss of consolidated subsidiaries for the reporting period are identified
• C)the carrying amount of the parent's investment in each subsidiary and the parent's portion of equity of each subsidiary are eliminated
• D)all of the above

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Definitions:

Automatically Terminated

refers to a process or condition under which a contract, agreement, or permission ceases to be in effect automatically due to specific conditions being met without the need for manual intervention or notification.

Merchandise

Goods or products that are available for purchase in retail or wholesale markets, often associated with marketing and sales strategies.

Credit Business

A business or practice that involves the provision of credit, loans, or financing to consumers or other businesses.

Classified Advertisement

A form of advertising, typically found in newspapers and online platforms, which allows individuals and businesses to solicit offers for products, services, employment, etc., often categorized by subject.