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Prince Mohammed bin Nayef had served as minister of interior, a post he inherited from his father.
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The cumulative assets from the business, as well as any revenue or expenses, are recorded on the balance sheet of the parent company.
This information is also reported on the income statement of the parent company.
This is used when the parent company holds a majority stake by controlling more than 50% of the subsidiary business.
Parent companies that hold more than 20% qualify to use consolidated accounting.