Consolidated Financial Statements Tend to Be Most Useful For

question 39

Multiple Choice

Consolidated financial statements tend to be most useful for:

• A)Creditors of a consolidated subsidiary.
• B)Investors and long-term creditors of the parent company.
• C)Short-term creditors of the parent company.
• D)Stockholders of a consolidated subsidiary.

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Definitions:

Justice

A moral principle regarding fairness and the equitable treatment of all individuals.

Fidelity

The degree to which a device, system, or service accurately reproduces or represents a given condition or datum without distortion or error.

Responsibility

The obligation or duty to properly act or take care of something or someone.

Confidentiality

The ethical and legal obligation to protect individuals' private information from unauthorized access, use, or disclosure.