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I can’t seem to get the logic behind these two statements. I’d appreciate it if you can shed some light. 🙂
The process of consolidation results in a single legal entity No
NCI will always feature within the consolidated financial statements NoWith regards to the second, while it’s highly probable this was one of those trick questions with the pesky ‘always’, is it possible they’re referring to scenarios in which there IS no NCI?
ie when the subsidiary is wholly owned by the parent?Thank you in advance!
Thanks!
What about the first? Does it have something to do with substance over legal form?
Yes it is substance over form.
There are two separate companies in law, but effectively it is like one big company.
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