Question

In consolidated financial statements:

A. the parent's and subsidiary's financial statements are reported on a separate basis.

B. the parent's and subsidiary's financial statements are reported on a combined basis.

C. financial statements are reported on an industry-wide basis.

D. none of the above.

Answer 1

Answer:

B. The parent's and subsidiary's financial statements are reported on a combined basis

Because the word consolidated means, " Gathering into account the combined information from the financial status of a Holding company and its subsidiaries."