Which is true regarding the Non controlling interest? [a] It is accounted for in the subsidiary’s books and is included on the Equity section of the subsidiary’s balance sheet [b] It is accounted for in the parent’s books and is included on the Equity section of the parent’s balance sheet [c] It is shown in the consolidated financial position as a separate section between the liabilities and equity [d] It is shown in the consolidated financial position as an element of shareholders’ entity
Which is true regarding the Non controlling interest? [a] It is accounted for in the subsidiary’s books and is included on the Equity section of the subsidiary’s balance sheet [b] It is accounted for in the parent’s books and is included on the Equity section of the parent’s balance sheet [c] It is shown in the consolidated financial position as a separate section between the liabilities and equity [d] It is shown in the consolidated financial position as an element of shareholders’ entity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which is true regarding the Non controlling interest?
[a] It is accounted for in the subsidiary’s books and is included on the Equity section of the subsidiary’s balance sheet
[b] It is accounted for in the parent’s books and is included on the Equity section of the parent’s balance sheet
[c] It is shown in the consolidated financial position as a separate section between the liabilities and equity
[d] It is shown in the consolidated financial position as an element of shareholders’ entity
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