Which of the Following Statements About Consolidated Financial Statements Is

question 1

Multiple Choice

Which of the following statements about consolidated financial statements is true? Consolidated financial statements:

• A)are useful to users because they provide information about the individual companies in the group.
• B)must be prepared whenever an investor corporation owns shares in another company that they intend to hold for the long-term.
• C)provide users with information about the whole entity but do not reflect a legal entity.
• D)record all the assets and liabilities of all companies in the group at their book values.

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