Final answer:
The statement is false; losses on bond retirement are recognized in the income statement in the period when the retirement occurs and includes consolidation.
Step-by-step explanation:
The statement that the loss on the retirement of bonds only appears in the consolidated income statement in the year in which we constructively retire the bonds is false. In the accounting context, when a company retires bonds before their maturity date, it must recognize any gain or loss on the retirement in the income statement for the period in which the retirement occurs. This includes immediate recognition of the loss, not just in the consolidated statement but also in the standalone financials, if applicable. The loss or gain is calculated as the difference between the redemption price and the carrying amount of the bonds.