Asked by Ericka Eldridge on Jun 18, 2024
Verified
The financial statements resulting from combining parent and subsidiary statements are called consolidated statements.
Consolidated Statements
Financial statements that aggregate the financial information of a parent company and its subsidiaries into one comprehensive financial report.
- Identify the types of financial statements and their purposes.
Verified Answer
AV
Anand VishnuJun 18, 2024
Final Answer :
True
Explanation :
When parent and subsidiary financial statements are combined, the resulting financial statements are known as consolidated statements.
Learning Objectives
- Identify the types of financial statements and their purposes.
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