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5. The SEC requires publicly held companies to report their consolidation policies under Regulation S-10, Rule 10-10. a. True b. False 6. The parent company and subsidiary exist as separate legal entities and maintain separate accounting records. a. True b. False 7. 100% of the assets and liabilities of the parent company and subsidiary are shown in the consolidated balance sheet, and any noncontrolling interest in the subsidiary's net assets is reported separately in the liability or the stockholders' equity section. a. True b. False 9. 8. The capital stock and retained earnings amounts that appear in the consolidated balance sheet are the sum of capital stock and retained earnings of the parent company and subsidiary company. a. True b. False GAAP requires that noncontrolling interest appear as a separate component of stockholders' equity. a. True b. False 10. A corporation that holds a majority interest (over 50%) of the voting stock of another corporation is referred to as the parent company a. True b. False