The preparation of consolidated financial statements:

Question $2$Answer

a$.$

obviates the need for separate entities to prepare and release their own separate financial statements.

b$.$

will eliminate the result derived from operations with parties external to the group of entities.

c$.$

highlights income derived as a result of transactions within the group.

d$.$

does not obviate the need for separate entities to prepare and release their own separate financial statements and should be done in accordance with AASB $10.$

e$.$

all of the above