How many sets of financial statements from subsidiaries are usually required to reconcile an MNC's accounting statements?
A) one
B) three
C) five
D) seven

Question

Quizplus · Accepted Answer

Three sets of financial statements from subsidiaries are usually required to reconcile an MNC's accounting statements. These are the local subsidiary's financial statements, the subsidiary's statements translated to the headquarters currency, and the consolidated financial statements for the MNC as a whole.

How Many Sets of Financial Statements from Subsidiaries Are Usually