Final answer:
The associate must prepare its financial statements on the same date as the investor's financial statements to ensure comparability and consistency for financial reporting purposes.
Step-by-step explanation:
The question addresses a common practice in financial reporting related to the preparation of financial statements. When an investor has significant influence over an associate (an entity in which the investor owns a part but not a controlling interest), Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) require the associate to align its reporting date with that of the investor.
The correct option is C) at the same date as the investor's financial statements. This alignment ensures comparability and consistency when the investor is consolidating the financial statements or using the equity method for its investment in the associate. If the reporting dates cannot be aligned, adjustments may be necessary to account for significant transactions occurring between the different reporting dates.