Consistent with the Entity Concept,full Consolidation Requires That

question 3

Multiple Choice

Consistent with the entity concept,full consolidation requires that:

• A) the parent ownership proportion of the subsidiary income, expenses, assets, liabilities and equity are included in the consolidated financial statements
• B) the non controlling ownership interests are included in the consolidated financial statements
• C) The full amount of income, expense, assets, liabilities and equity are included in the consolidated financial statements
• D) none of the above

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Definitions:

Broadband Service

High-speed internet access that is always on and faster than traditional dial-up connections.

NOS

Network Operating System, software that manages network resources and allows computers within the network to communicate and share resources.

Devices

Electronic or mechanical gadgets designed to perform a specific task or function, often part of a larger system.

Current Standard

The existing norm or specification that has been widely adopted and is considered a benchmark for comparison.