I. IFRS10/IAS 27 requires a parent to present consolidated financial statements. Consolidated financial statement is the financial statements of a group presented as those of a single economic entity. When a parent issues consolidated financial statements, it should consolidate all subsidiaries, both foreign and domestic. However, there are circumstances that does not require consolidation of financial statements. Critically analyze the 4 exemptions for preparing group accounts (10 Marks). II. According to the Company Act 2002 in Tanzania, a parent company is exempted from preparation of group accounts if It is itself a subsidiary of another company that does prepare group accounts. At the same time, the group headed by that company is not ineligible group. Briefly articulate the ineligible groups (10 Marks)