All Parent Entities Are Required to Present Consolidated Statements Unless

question 11

Multiple Choice

All parent entities are required to present consolidated statements unless the following conditions apply to them:
I The parent is a wholly owned subsidiary.
II The parent is a partly owned subsidiary and its owners do not object to the non-presentation of consolidated financial statements.
III The parent's debt or equity securities are traded in a public market.
IV The parent is not in the process of applying to issue any securities in a public market.

• A)I and II only
• B)I,II and III only
• C)I,II and IV only
• D)I,II,III and IV.

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Definitions:

Economic Production

The process of creating goods and services through the combination of labor, capital, and resources to meet consumer demand and generate wealth.

Global Reporting Initiative

Promotes environmental, economic and social responsibility.

Environmental Responsibility

The duty that individuals and organizations have to act in ways that protect and benefit the environment.

Economic Responsibility

denotes a company's or individual's obligation to make decisions that positively impact the economic well-being of society, including prudent use of resources and fair economic practices.