Which of the following best describes non controlling interest? (A) A noncontrolling interest describes a corporation that
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Question:
Which of the following best describes non controlling interest?
(A) A noncontrolling interest describes a corporation that is managed by nonshareholders
(B) A noncontrolling interest represents the claims of nonmajority shareholders in the assets and earnings of a company whose accounts are consolidated into the accounts of the major shareholder.
(C) A noncontrolling interest is in the subsidiary company not the parent company and is reported in the consolidated financial statement
(D) Both B and C are correct
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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