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Why would the subsidiary be a wholly-owned subsidiary

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Reference no: EM132611044

IFRS 10 states that a parent does not need to prepare consolidated financial statements if they meet all of the following item: is a wholly-owned subsidiary or is a partially-owned subsidiary of another entity and all owners do not object to not preparing consolidated financial statements.

Question 1: Can you provide an example of this concept? Parent is GFR company; TRE is the subsidiary, S1. Why would the subsidiary be a wholly-owned subsidiary of another entity?

Reference no: EM132611044

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