If an Entity Presents Both Consolidated Financial Statements and Parent

question 11

Multiple Choice

If an entity presents both consolidated financial statements and parent entity financial statements in the same financial report, it must present:

• A) segment data only on the basis of the parent entity financial statements;
• B) segment data only on the basis of the consolidated financial statements;
• C) condensed segment data that includes revenue information only;
• D) segment information on the basis of both the consolidated and the parent financial information.

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Definitions:

Own Interests

Pursuits or objectives that serve an individual's personal benefit or advantage.

Epicurus

Ancient Greek philosopher who founded Epicureanism, a philosophy advocating for the pursuit of happiness through modest pleasures and the avoidance of pain.

Religion

A system of faith and worship often involving belief in a supreme being or beings and a guiding philosophy or set of doctrines.

Happiness

A state of well-being and contentment characterized by positive emotions.