Examlex
All of the following statements are true EXCEPT:
Parent Company
A company that holds a controlling interest in another company, making the latter its subsidiary.
Financial Statements
Papers that offer a summary of a corporation's financial status, featuring the balance sheet, income statement, and cash flow statement.
Consolidating
The process of combining financial statements from different entities within a single corporate group to provide a single set of financial statements.
Foreign Subsidiary
A company owned or controlled by another company (the parent company) but located and operating in a foreign country.
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