Which of the Following Statements Is (Are)correct

question 38

Multiple Choice

Which of the following statements is (are) correct?
I.The amount assigned to the noncontrolling interest may be affected by a constructive retirement of bonds.
II.A constructive retirement of bonds normally results in an extraordinary gain or loss.
III.In constructive retirement,the entity would still consider the bonds outstanding,even though they are treated as if they were retired in preparing consolidated financial statements.

• A) I
• B) II
• C) I and III
• D) I, II, and III

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Definitions:

Cost-Benefit Analysis

An economic evaluation method where the benefits of an action or project are weighed against its costs.

Social Movements

Collective, organized efforts aiming to promote or resist change in the society with regard to specific issues.

Philosophical Analysis

Philosophical analysis is the method of breaking down ideas, statements, and concepts into simpler components for clarity, understanding, and examination of their logical foundations.

Morality Policy Making

The process of creating laws and policies based on ethical considerations and moral values.