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25. From the standpoint of accounting theory, which of the following statements is the best justification for the preparation of consolidated financial statements? a. Legally

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25. From the standpoint of accounting theory, which of the following statements is the best justification for the preparation of consolidated financial statements? a. Legally the companies are one entity, but from a management perspective the companies are separate. b. Legally and from a management perspective, the companies are separate entities. c. Legally the companies are separate, but from a management perspective the companies are one entity. d. Legally and from a management perspective, the companies are one entity

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