The main purpose of the preparation of consolidate statements is:

CS Executive · Corporate and Management Accounting · PYQS · December 2019
The main purpose of the preparation of consolidate statements is:
(A) the compliance of AS-21
(B) to satisfy the legal provision of the Companies Act, 2013
(C) to reflect a true and fair view of the position and the profit or loss of the holding company 'group'
(D) All the above

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Consolidated Financial Statements

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