The Following Is a Listing of Possible Sets of Financial $\quad$

question 12

Multiple Choice

The following is a listing of possible sets of financial statements:
I. $\quad$ Consolidated financial statements of parent entities (those with subsidiaries) - uses consolidation.
II. $\quad$ Separate financial statements of parent entities (single entity financial statements that report on the parent entity alone) .
III. $\quad$ Financial statements of entities that are not parents that apply equity accounting to investments in associates and jointly-controlled entities (single entity financial statements) .
IV. $\quad$ Separate financial statements of entities that are not parents that have investments in associates and jointly-controlled entities (single entity financial statements) - equity accounting not applied.
V. $\quad$ Financial statements of an entity that is not a parent and does not have investments in jointly controlled entities.Neither equity accounting nor consolidation applied.
-Which of the following most accurately reflects the requirements of IFRSs for financial statements that must be presented by a parent entity:

• A)All of I to V
• B)I only
• C)I and III
• D)I and II

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Definitions:

William Berkeley

Was a colonial governor of Virginia, known for his role during the Bacon's Rebellion and his influence in the early development of the colony.

English Civil War

A series of armed conflicts and political machinations between Parliamentarians and Royalists over, principally, the manner of England's governance (1642-1651).

Protestant Associators

Protestant Associators were groups of Protestant soldiers or civilians who banded together during periods of religious conflict, particularly in the 16th and 17th centuries, to defend their faith and interests against perceived Catholic opponents.

William and Mary

Refers to the reign of King William III and Queen Mary II, who jointly ruled England, Scotland, and Ireland from 1689 after the Glorious Revolution.