Consolidated financial statements are prepared when a company owns _________ of the ordinary shares of another company.

Question

Quizplus · Accepted Answer

Consolidated financial statements are prepared when a company owns more than 50% of the ordinary shares of another company. This means that the former has control over the latter and can make decisions that affect its operations and financial performance. The purpose of consolidated financial statements is to provide a comprehensive view of the financial position and performance of the group as a whole, rather than individual companies within the group.

Consolidated Financial Statements Are Prepared When a Company Owns _________