All Parent Entities Are Required to Present Consolidated Financial Statements

question 17

Multiple Choice

All parent entities are required to present consolidated financial statements unless the following conditions apply to them:
$\begin{array}{|l|l|}\hline \text { I. } & \text { The parent is a wholly owned subsidiary. } \\\hline \text { II. } & \begin{array}{l}\text { The parent is a partly owned subsidiary and its owners do not object to the } \\\text { non-presentation of consolidated financial statements. }\end{array} \\\hline \text { III. } & \text { The parent's debt or equity securities are traded in a public market. } \\\hline \text { IV. } & \begin{array}{l}\text { The parent is not in the process of applying to issue any securities in a } \\\text { public market. }\end{array} \\\hline\end{array}$

• A) I and II only
• B) I, II and III only
• C) I, II and IV only
• D) I, II, III and IV.

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Definitions:

Environmental Scanning

The process businesses use to understand the external factors influencing their operation, including technological, regulatory, and competitive elements.

Internal Factors

Elements or conditions within an organization or individual's control that can influence decisions, behaviors, and outcomes, such as policies, resources, and personal abilities.

Systematic Monitoring

A structured and continuous process of tracking and evaluating the performance, quality, or progress of a project, system, or organization.

Cultural Audits

Audits of the culture and quality of work life in an organization