IFRS 10 States That a Parent Is Not Required to Present

question 52

Multiple Choice

IFRS 10 states that a parent is not required to present consolidated financial statements for external reporting purposes if the parent meets certain conditions. Which of the following conditions is NOT correct?

• A) Its ultimate or any intermediate parent produces financial statements available for public use and that comply with IFRS in which subsidiaries are consolidated.
• B) It does not have any debt or equity instruments traded in a public market.
• C) It has filed, or 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 owners have been informed about the parent not presenting consolidated financial statement.

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Definitions:

Tactile Hallucination

The false perception of physical touch or sensation on the skin without any physical cause.

Somatic Hallucination

False perceptions or sensations in the body that have no physical source, such as feeling insects crawling on the skin.

Auditory Hallucination

An experience involving hearing sounds, usually voices, that are not present in external reality.

Olfactory Hallucination

A form of hallucination involving the perception of smells that are not present in the environment.