The Financial Statements Resulting from Combining Parent and Subsidiary Statements

question 59

True/False

The financial statements resulting from combining parent and subsidiary statements are called consolidated statements.

---

Definitions:

Gini Coefficient

A commonly used measure of the degree of inequality of income derived from a Lorenz curve. It can range from 0 to a maximum of 1.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showcasing the degree of inequality.

45-Degree Line

In economics, often used in Keynesian cross diagrams to show points where aggregate output (or income) equals aggregate expenditure, indicating equilibrium.

Gini Coefficient

A measure of the inequality of a distribution, often used to measure income inequality, ranging from 0 (perfect equality) to 1 (perfect inequality).