... following is the best theoretical justification for consolidated financial statements ? a . In form the companies are one entity ; in substance they are separate . b . In form the companies are separate ; in substance they are one ...
Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik. Solution ( Two ) a . Exhibit 6-9 b . Consolidated Statement of Cash Flows The problem specifies that the indirect approach should be used in preparing the consolidated statement of ...
