Consolidated statements combine the balance sheets,income statements,and statements of cash flow of the parent company with those of its controlling interest affiliates.

Question

Quizplus · Accepted Answer

Consolidated statements are designed to present the financial position and results of operations of a group of companies as if they were a single entity. The financial statements of the parent company and its controlling interest affiliates are combined, resulting in a single set of statements that reflect the financial activities of the entire group.

Consolidated Statements Combine the Balance Sheets,income Statements,and Statements of Cash