Which of the following statements relating to parent companies and subsidiaries are correct?
(1)  A parent company could consolidate a company in which it holds less than 50% of the ordinary share capital in
      certain circumstances.
(2)  Goodwill on consolidation must be amortised over a period not exceeding ten years.
(3)  Goodwill on consolidation will appear as an item in the parent company’s individual balance sheet.
(4)  A subsidiary may be excluded from consolidation if it has not previously been consolidated and the parent’s
       investment in it is held for resale in the near future.
A     1 and 4
B     2 and 3
C     1 and 2
D     3 and 4

A

A

see see

see see