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:

Price

The expected, necessary, or contributed financial amount in exchange for something.

Total Revenue

The complete amount of income generated by the sale of goods or services related to the company's primary operations.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given time period.

Price

The amount of money expected, required, or given in exchange for something.