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.

Question

Quizplus · Accepted Answer

Segment data should be presented on the basis of consolidated financial statements because they provide a complete view of the financial performance and position of the entire group of companies, including all subsidiaries, which is essential for users of the financial statements to make informed decisions.

If an Entity Presents Both Consolidated Financial Statements and Parent