{"id":53872,"date":"2024-04-16T00:00:32","date_gmt":"2024-04-16T00:00:32","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53872"},"modified":"2024-04-16T00:00:32","modified_gmt":"2024-04-16T00:00:32","slug":"preparation-of-consolidated-statement-as-per-as-21-is","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/","title":{"rendered":"Preparation of consolidated statement as per AS-21 is"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;optional&#8221; option2=&#8221;mandatory for listed companies&#8221; option3=&#8221;mandatory for Pvt. Ltd&#8221; option4=&#8221;partnership firm&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. mandatory for listed companies<\/strong><\/p>\n<p>AS-21 is an accounting standard that deals with the preparation of consolidated financial statements. It requires listed companies to prepare consolidated financial statements for all of their subsidiaries. This is because listed companies are required to provide investors with a clear and accurate view of their financial position and performance.<\/p>\n<p>Private limited companies are not required to prepare consolidated financial statements, but they may do so voluntarily. Partnership firms are not required to prepare consolidated financial statements.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li>Option A: Optional. This is not correct because AS-21 requires listed companies to prepare consolidated financial statements.<\/li>\n<li>Option B: Mandatory for listed companies. This is the correct answer because AS-21 requires listed companies to prepare consolidated financial statements.<\/li>\n<li>Option C: Mandatory for Pvt. Ltd. This is not correct because private limited companies are not required to prepare consolidated financial statements.<\/li>\n<li>Option D: Partnership firm. This is not correct because partnership firms are not required to prepare consolidated financial statements.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;optional&#8221; option2=&#8221;mandatory for listed companies&#8221; option3=&#8221;mandatory for Pvt. Ltd&#8221; option4=&#8221;partnership firm&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-53872","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Preparation of consolidated statement as per AS-21 is<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preparation of consolidated statement as per AS-21 is\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;optional&#8221; option2=&#8221;mandatory for listed companies&#8221; option3=&#8221;mandatory for Pvt. Ltd&#8221; option4=&#8221;partnership firm&#8221; correct=&#8221;option2&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T00:00:32+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Preparation of consolidated statement as per AS-21 is","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/","og_locale":"en_US","og_type":"article","og_title":"Preparation of consolidated statement as per AS-21 is","og_description":"[amp_mcq option1=&#8221;optional&#8221; option2=&#8221;mandatory for listed companies&#8221; option3=&#8221;mandatory for Pvt. Ltd&#8221; option4=&#8221;partnership firm&#8221; correct=&#8221;option2&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T00:00:32+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/","url":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/","name":"Preparation of consolidated statement as per AS-21 is","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-16T00:00:32+00:00","dateModified":"2024-04-16T00:00:32+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/preparation-of-consolidated-statement-as-per-as-21-is\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"accounting","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/accounting\/"},{"@type":"ListItem","position":4,"name":"Preparation of consolidated statement as per AS-21 is"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/53872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=53872"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/53872\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=53872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=53872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=53872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}