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illustration below: Parent Associate 1 Associate 2 Subsidiary A Subsidiary B Subsidiary 1 Associate A Subsidiary C Associate 3 Which of the following statements is/are
illustration below: Parent Associate 1 Associate 2 Subsidiary A Subsidiary B Subsidiary 1 Associate A Subsidiary C Associate 3 Which of the following statements is/are true? I. For Parent's consolidated financial statements, Associate A is a related party. II. For Subsidiary A's financial statements, Subsidiary 1 is a related party. O Both I and II I only O Neither I nor II II only
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