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Commerce Short Question | Gkseries

Consolidated financial statements are prepared on the principle

[A] In form the companies are one entity, in substance they are separate.
[B] In form companies are separate, in substance they are one.
[C] In form and substance the companies are one entity.
[D] In form and substance the companies are separate.
Answer & Explanation

Answer: In form and substance the companies are one entity.

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