Chapter 8 & 12 Flashcards
1
Q
Definition of ‘Events after the Reporting Period’
A
1
2
Q
What happens AFTER the reporting period?
A
2
3
Q
How can 2 or more businesses be combined?
A
3
4
Q
Why is a consolidated financial statement IMPORTANT?
A
4
5
Q
What are the EXEMPTIONS from presenting the consolidated financial statements?
A
5
6
Q
The investor(parent) controls the investee(subsidiary) if the investor has:-
A
6
7
Q
Explain ‘Control Model’
A
7
