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Which of the following statements is not correct? A. Consolidated financial statements are financial statements of a group of entities presented as if that group

Which of the following statements is not correct?

A.

Consolidated financial statements are financial statements of a group of entities presented as if that group was acting as a single economic entity.

B.

A subsidiary is an entity that is controlled by another entity.

C.

A group comprises a parent and all of its subsidiaries.

D.

A parent is an entity that has more than one subsidiary.

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