Which of the following is the best theoretical justification for consolidated financial statements? a. In form the
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Which of the 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 entity.
c. In form and substance the companies are one entity.
d. In form and substance the companies are separate. (AICPA)
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