IPSAS 35 'Consolidated financial statements' sets out the reporting requirement(s) as which of the following? Please select the right answers. A controlling entity shall prepare consolidated financial statements using uniform accounting policies for like transactions and other events in similar circumstances. Consolidation of a controlled entity shall begin from the date the entity obtains control of the other entity and cease when the entity loses control of the other entity. A controlling entity shall prepare consolidated financial statements using accounting policies that are determined by the controlling entity. None of these are correct

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.