The Key Characteristic That Determines Which Entities Financial Statements Should

question 18

Multiple Choice

The key characteristic that determines which entities financial statements should be combined into a set of consolidated financial statements is:

• A)the existence of transactions between the entities
• B)control
• C)substance over form
• D)access to the financial statements of each entity that is to be combined.

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Definitions:

Data Repository Type

A classification that describes the nature and function of a repository used to store, manage, and retrieve data sets.

Data Warehouse

A large store of data accumulated from a wide range of sources within a company and used for reporting and data analysis.

Database Tables

Structures within a database designed to hold data in rows and columns, allowing for efficient data management and retrieval.

Non-Technical User

A user with limited or no technical expertise or background in the domain they are interacting with.