All of the following statements are true for the proprietary concept, except for: a. The non-controlling shareholding
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Question:
All of the following statements are true for the proprietary concept, except for:
a. The non-controlling shareholding is reflected as part of the equity.
b. It is assumed that the consolidated financial statements are prepared to be primarily of use of the shareholders of the controlling parent entity.
c. Net income is determined excluding the amount attributed to the non-controlling interest.
d. The proprietary concept is also known as parent concept
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1285190907
8th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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