How is the non-controlling interest (NCI) in the subsidiary’s profit or loss presented in the consolidated statement of profit or loss? a. Any of these as a matter of accounting policy choice. b. The consolidated profit or loss pertains to the parent only, the NCI in profit is presented separately. c. Not presented but disclosed either as a footnote or in the notes. The consolidated profit or loss pertains to the parent only. d. As part of the group’s profit or loss. The group’s profit or loss is then attributed to both the owners of the parent and NCI.

How is the non-controlling interest (NCI) in the subsidiary’s profit or loss presented in the consolidated statement of profit or loss? a. Any of these as a matter of accounting policy choice. b. The consolidated profit or loss pertains to the parent only, the NCI in profit is presented separately. c. Not presented but disclosed either as a footnote or in the notes. The consolidated profit or loss pertains to the parent only. d. As part of the group’s profit or loss. The group’s profit or loss is then attributed to both the owners of the parent and NCI.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter14: Intercorporate Investments In Common Stock

Section: Chapter Questions

Problem 8Q

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Question

How is the non-controlling interest (NCI) in the subsidiary’s profit or loss presented in the consolidated statement of profit or loss?

a. Any of these as a matter of accounting policy choice.

b. The consolidated profit or loss pertains to the parent only, the NCI in profit is presented separately.

c. Not presented but disclosed either as a footnote or in the notes. The consolidated profit or loss pertains to the parent only.

d. As part of the group’s profit or loss. The group’s profit or loss is then attributed to both the owners of the parent and NCI.

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