Which of the Following Statements Holds True for a Consolidated

Multiple Choice

Which of the following statements holds true for a consolidated financial statement?

A) It is a part of a nation's balance of payments that includes purchases and sales of assets, such as stocks, bonds, and land.
B) It demonstrates that firms-that are legally separate from the parent and each other-are economically independent too.
C) It is a statement part of a nation's balance of payments which includes the value of all goods and services imported and exported, as well as the payment and receipt of dividends and interest.
D) It is a written, dated, and signed three-party instrument containing an unconditional order by a drawer that directs a drawee to pay a definite sum of money to a payee on demand or at a specified future date.
E) It brings together all the financial statements of a parent and its subsidiaries into a single financial statement.