In Which of the Following Situations Do Accounting Standards Not

question 32

Multiple Choice

In which of the following situations do accounting standards not require that the financial statements of the parent and subsidiary be consolidated?

• A)A corporation creates a new 100 percent owned subsidiary
• B)A corporation purchases 90 percent of the voting stock of another company
• C)A corporation has both control and majority ownership of an unincorporated company
• D)A corporation owns less-than a controlling interest in an unincorporated company

---

Definitions:

Self-Efficacy

A belief in one's ability to succeed in specific situations or accomplish a task.

Universal Emotions

Basic emotions, such as happiness, sadness, anger, fear, surprise, and disgust, that are experienced and recognized across all human cultures.

Gender Dysphoria

Distress or discomfort that may occur when a person's gender identity does not align with their assigned sex at birth.

Stability

The state of being steady, consistent, or unchanged over time.