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:

Abrasion

A wound caused by superficial damage to the skin or a mucous membrane, resulting from rubbing or scraping.

Areolar Tissue

A type of loose connective tissue that provides both elasticity and support, found throughout the body binding organs and tissues together.

Lamina Propria

A layer of connective tissue found beneath the epithelium in mucous membranes, providing support and nourishment.

Digestive Tracts

The digestive tracts refer to the series of hollow organs joined in a long, twisting tube from the mouth to the anus, where digestion and absorption of food happen.