1 As per Sec. 129(3) of Companies Act, 2013, a company shall, in addition to financial statements, prepare a consolidated financial statement of the company and of all the ______________________________ in the same form and manner as that of its own and in accordance with the applicable accounting standards:
(a) subsidiary companies
(b) subsidiaries and associate companies
(c) subsidiaries, associates and joint venture companies.
(d) none of the above
Here literally speaking answer is “subsidiaries and associate companies” as section uses word “subsidiaries and associate companies” but as per definition of associate, associate includes joint venture, so conceptually it is “subsidiaries, associates and joint venture companies” as they are giving reference of Sec 129(1), literal answer can be preferred, author has preferred literal answer