Accounting · Accounting Standards
Which of the following statements is true regarding Indian Accounting Standard 27 on Separate Financial Statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Consolidated financial statements are those presented by a parent or an investor with joint control.
- 2An entity needs to present either of Consolidated or Separate financial statements when the equity method is not applied.
- 3It does not mandate which entities produce separate financial statements.✓
- 4Separate financial statements are the financial statements of a parent company and its subsidiaries, which are presented as single economic entities.
Correct answer
It does not mandate which entities produce separate financial statements.
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