What the said financial statement is accounted for as

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Reference no: EM132949997

Problem 1: User/s of general-purpose financial reporting mentioned in the conceptual frameworks is/are the:

a. Government

b. Creditor and debtor

c. Owner and shareholder

d. Source of fund provider

Problem 2: 5years ago, entity 1 was acquired by entity 2. The acquisition resulted to a parent-subsidiary relationship. Entity 1 reported 50 million total assets in the financial statements as of december 2021. The said financial statement is accounted for as:

a. Unconsolidated statement of financial position

b. Consolidated statement of financial performance

c. Unconsolidated statement of financial performance

d. Consolidated statement of financial position

Reference no: EM132949997

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