Consolidated statements are appropriate when one corporation directly or indirectly owns a majority of the outstanding voting stock of another.

Name: Consolidated statements are appropriate when one corporation directly or indirectly owns a majority of the outstanding voting stock of another.
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Question

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Consolidated statements are appropriate when a corporation owns a controlling interest in another corporation, usually defined as owning more than 50% of the outstanding voting stock.

Consolidated Statements Are Appropriate When One Corporation Directly or Indirectly