Consolidated financial statements report the financial position of two or more legal entities just as if they were one reporting unit. For which parties are these financial statements useful and are they the only financial statements a parent or subsidiary company needs to prepare?

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The Answer of Consolidated financial statements report the financial position of two or more legal entities just as if they were one reporting unit. For which parties are these financial statements useful and are they the only financial statements a parent or subsidiary company needs to prepare?

Consolidated Financial Statements Report the Financial Position of Two or More