A principal limitation of consolidated financial statements is their lack of separate financial information about the assets,

Question:

A principal limitation of consolidated is their lack of separate financial information about the assets, liabilities, revenues, and expenses of the individual companies included in the consolidation. Identify some problems that the reader of consolidated financial statements would encounter as a result of this limitation.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...