Company A owns 40% of the voting stock of a large manufacturing company in England. There is no other shareholder that owns more than 2% of the voting stock of the manufacturing company. Company A has been able to elect its slate of board members for the manufacturing company.

Based solely on its stock ownership, would Company A need to consolidate the manufacturing company under US GAAP or IFRS? Explain your answer.

Answer rating: 100% (QA)

Yes As per the statement ment... View the full answer