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Why do parent companies disregard the legal boundaries of entities, and report consolidated financial statements as a single economic entity? Select answer from the options
Why do parent companies disregard the legal boundaries of entities, and report consolidated financial statements as a single economic entity? Select answer from the options below to provide useful information to financial statement users about all the resources under the control of parent company management to eliminate cumbersome analysis when reporting minority interests so the equity claims of noncontrolling shareholders to net assets and net income are transparent to prevent duplication of effort
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