What does it mean when an income statement is labeled as a "consolidated" income statement?

Question 34 options:

	The statement includes more than one year of data.
	The statement includes only major category totals, and does not include any details of the revenues and expenses.
	The statement does not show subtotals for Gross Profit and Operating Income.
	The statement includes the data for a parent company and its subsidiaries.

To meet stockholder expectations for the year, management records fictitious revenues as well as fictitious receivables. In doing this, management violates which of the following financial statement assertions?

Question 37 options:

	Materiality
	Ownership
	Completeness
	Presentation and Disclosure
	Valuation