Consolidated financial statements are prepared for the:
A)balance sheet and income statement only.
B)statement of cash flows and statement of stockholders' equity only.
C)balance sheet,income statement and statement of cash flows only.
D)balance sheet,income statement,statement of cash flows and statement of stockholders' equity.

Question

Quizplus · Accepted Answer

Consolidated financial statements are prepared to provide an overview of the financial performance and position of a group of companies. Such statements should include the balance sheet, income statement, statement of cash flows, and statement of stockholders' equity. Therefore, option D is the correct answer.

Consolidated Financial Statements Are Prepared for The