FAR10 Intercompany Transactions and Balances

When would combined financial statements be appropriate?

What is one of the most significant differences between U.S. GAAP and IFRS in accounting for business combinations?

Under U.S. GAAP, the fiscal reporting period of a parent and its subsidiaries may be up to 4 months different.

Under U.S. GAAP, a parent and its subsidiaries do not have to follow the same accounting policies in order to be consolidated. True / False?