Examlex
Which of the following statements is correct?
Net Income
The remainder of a company's revenue after deducting all expenditures and taxes, known as net profit.
Consolidated Financial Statements
Consolidated Financial Statements present the financial position and performance of a parent company and its subsidiaries as a single entity, merging their individual statements into one comprehensive document.
Subsidiary
A company that is completely or partially owned and controlled by another company, known as the parent company.
Parent Company
A company that owns more than 50% of the common stock of another entity.
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