Question 13 10 pts 13. Consolidated financial statements are useful because they are much less detailed than the statements for the individual companies. the parent and subsidiaries constitute a single legal entity, and the financial statements should reflect that fact. minority shareholders need the consolidated information to make good investment decisions. they treat parent and subsidiary forms as one combined company that gives investors a clear financial picture of the entire entity Question 14 10 pts 14. If bonds are issued at a premium, the face interest rate is lower than the market rate of interest. too low to attract investors. higher than the market rate of interest. adjusted to a higher effective rate of interest