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Which of the following statements is not correct in relation to consolidation accounting key
terms?
a.
A subsidiary is an entity that is controlled by another entity
b.
Consolidated financial statements are financial statements of a group of entities presented as if
that group was acting as a single economic entity
c.
A group comprises a parent and all of its subsidiaries
d.
A partially owned subsidiary will also have NCI
e.
A parent is an entity that has more than one subsidiary

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