Which of the following statements arecorrect?

i.A group that prepares consolidated financial statements cannot have more than one parent.

ii.Control is not the key criterion for the existence of a parent-subsidiary relationship.

iii.One of the requirements for preparing consolidated financial statements is the existence of formal contracts for supply of goods and services between the firms.

iv.Consolidated financial statements is only needed where an investor holds more than 50% of the voting shares of the investee.

v.The consolidation process does involve making adjustments to the individual financial statements or in the accounts of the entities of the group.

0 iii. and iv 0 Only i 0 ii.. iv. and v 0 ii. and v O i.. ii. and