When Presenting a Consolidated Statement of Financial Position the Non-Controlling

question 38

Multiple Choice

When presenting a consolidated statement of financial position the non-controlling interest is:

• A) presented as a separate component of total assets and total liabilities.
• B) presented separately within the non-current liability section.
• C) presented separately within the equity section.
• D) shown as a separate portion of net assets.

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Definitions:

Statement of Cash Flows

An accounting document that illustrates adjustments in balance sheet figures and their effect on cash and similar resources, dividing the analysis among operating, investing, and financing sectors.

Indirect Method

A cash flow statement approach that adjusts net income for non-cash transactions and changes in working capital.

Operating Activities

Transactions and events that pertain to the primary business operations, impacting the net income and involving cash flows related to operating expenses and revenues.

Indirect Method

A method for preparing cash flow statements where net income is adjusted for changes in balance sheet items to compute cash from operating activities.