Answer these questions about consolidation accounting 1 Define parent company Define subsidiary company 2 How do consolidated financial statements differ from the financial statements of a single company 3 Which companys name appears on the consolidated financial statements How much of the subsidia...

1 A parent company is a corporation that owns a contro ...

Answer these questions about consolidation accounting: 1. Define parent company. Define subsidiary company. 2. How do consolidated

Question:

Answer these questions about consolidation accounting:
1. Define parent company. Define subsidiary company.
2. How do consolidated differ from the of a single company?
3. Which company’s name appears on the consolidated How much of the subsidiary’s shares must the parent own before reporting consolidated statements?

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...