Only the income statement is consolidated on the date of a business combination of a parent company and subsidiary

Select one:

True

False

What is consolidated retained earnings?

Select one:

a. Parents retained earnings plus Subsidiary retained earnings.

b. Parents retained earnings plus Parents share of the net increase in Subsidiary retained earnings since acquisition.

c. Parents retained earnings only

d. parents retained earnings plus Parents share of Subsidiary net income for the current year less parents share of Subsidiary dividends declared