Which of the Following Regarding the Preparation of Consolidated Financial

question 64

Multiple Choice

Which of the following regarding the preparation of Consolidated Financial Statement(s) is/are correct?

• A)Once the parent company prepares Consolidated Financial Statements,it no longer needs to prepare financial statements for its own activities.
• B)Only the subsidiaries are required to prepare Financial Statements.
• C)Consolidated Financial Statements are required by the Parent Company for reporting purposes only;each company must continue to prepare its own Financial Statements.
• D)Consolidated Financial Statements are required only when both companies are publicly traded)

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