When Ownership of Another Company Is at Least 20% and Up

question 79

True/False

When ownership of another company is at least 20% and up to and including 50%,consolidation is required.

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Definitions:

Registration

The process of recording information, specifically in context to securities, where securities must be registered before being offered to the public.

PCAOB

Public Company Accounting Oversight Board, a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest.

Public Accounting Firms

Organizations licensed to provide accounting services to the public, including auditing, tax advice, and financial consulting.

Audit Report

A formal opinion or disclaimer, issued by an auditor as a result of an audit, regarding the financial statements of a company.