The Noncontrolling Interest Line Item on the Income Statement Represents

question 13

Multiple Choice

The noncontrolling interest line item on the income statement represents ________.

• A) the portion of the subsidiary owned by others, which is deducted to determine net income
• B) the portion of the subsidiary owned by the reporting entity, which is added to determine net income
• C) the portion of earnings that belongs to others, which is deducted to determine net income attributable to the controlling interest
• D) the portion of earnings that belongs to others, which is added to determine net income attributable to the controlling interest

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Definitions:

Annual Interest Rate

The percentage increase in the amount of money owed as interest on a loan or investment, calculated on an annual basis.

Principal

The original sum of money borrowed in a loan, or the amount of the investment, excluding any interest or dividends.

Accounts Receivable-Redding

Accounts receivable specifically related to the Redding location or branch, indicating money owed by customers for goods or services delivered.

$8,300 Balance

A specific amount, often referring to the closing or remaining value in a particular account at a given moment.