Which of the following is correct regarding consolidation?

a) Companies that have different fiscal year-ends cannot be consolidated.

b) Consolidation should not be performed when control of the subsidiary does not rest with its owners.

c) A company can elect which of their majority owned subsidiaries they want to consolidate.

d) The equity method can be used as a substitute for consolidation upon election by the owners.

e) If the subsidiary is in an industry that is significantly different from that of the parent the parent may not consolidate the subsidiary.