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21-04-2020
Business

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Best Appliances owns 90% of the voting stock of Wratchet, Inc. Which of the following is true? A. Wratchet would be considered the parent entity. B. Best would be considered the parent entity. C. The financial statements of Best would be consolidated into Wratchet. D. Both a and c are correct.

Respuesta :

22-04-2020

Answer:

B. Best would be considered the parent entity.

Explanation:

When a company owns another companies stock of 90% or more it would be considered as parent entity. The parent entity can control the the subsidiary. The financial statements will be consolidated into parents companies accounts.

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