Q. where one company has control over another company, consolidated financial statements presenting the group as one single entity are produced.
which accounting concept is being applied?
1. business entity,
2. substance over form
3. going concern
4. verifiability.
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FAAccounting concept
10y ago#1substance over form.
We are prepared consolidated statements as though it is one big company, but in law there are two separate companies.
Dear Sir, thank you so much for replying.
10y ago#3You are welcome :-)
I am member of students specially f3 is there any way to get past exam
where one company has control over another company, consolidated financial statements presenting the group as one single entity are produced.
. where one company has control over another company, consolidated financial statements presenting the group as one single entity are produced.
which accounting concept is being applied?
1. business entity,
2. substance over form
3. going concern
4. verifiability.
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