The preparation of consolidated financial statements:
A) obviates the need for separate entities to prepare and release their own separate financial statements.
B) does not obviate the need for separate entities to prepare and release their own separate financial statements.
C) should be done in accordance with AASB 127.
D) obviates the need for separate entities to prepare and release their own separate financial statements and should be done in accordance with AASB 127.
E) does not obviate the need for separate entities to prepare and release their own separate financial statements and should be done in accordance with AASB 127.

Question

Quizplus · Accepted Answer

The Answer of The preparation of consolidated financial statements:
A) obviates the need for separate entities to prepare and release their own separate financial statements.
B) does not obviate the need for separate entities to prepare and release their own separate financial statements.
C) should be done in accordance with AASB 127.
D) obviates the need for separate entities to prepare and release their own separate financial statements and should be done in accordance with AASB 127.
E) does not obviate the need for separate entities to prepare and release their own separate financial statements and should be done in accordance with AASB 127.

The Preparation of Consolidated Financial Statements