Which of the Following Conditions Need NOT Be Met Before

question 52

Multiple Choice

Which of the following conditions need NOT be met before a parent company is not required to present consolidated financial statements for external reporting purposes?

• A) Its ultimate or any intermediate parent company produces financial statements available for public use and comply with IFRS.
• B) It does not have any debt or equity instruments traded in a public market.
• C) It has not filed, nor is in the process of filing, financial statements with a regulatory organization for the purposes of a public offering.
• D)It is a wholly-owned subsidiary of another entity and its other owner have not been informed about the parent not presenting consolidated financial statement.

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Definitions:

Percentage Changes

A mathematical calculation that indicates how much a quantity has increased or decreased in percentage terms compared to a previous period.

Midpoint Formula

A method used in economics to calculate the elasticity of demand or supply by averaging the initial and final quantities and prices to estimate the percentage change.

Price Elasticity

measures how much the quantity demanded of a good changes in response to a change in the price of that good.

Absolute Value

The absolute value refers to a number's magnitude irrespective of its sign, essentially measuring how far away the number is from zero along the numerical line.