Which of the Following Statements Is Correct Regarding Proportionate Consolidation

question 12

Multiple Choice

Which of the following statements is correct regarding proportionate consolidation?

• A)many of the procedures appropriate for the application of proportionate consolidation are similar to the procedures for the consolidation of investments in subsidiaries
• B)it means that the statement of financial position of the venturer includes its share of the assets that it controls jointly and its share of the liabilities for which it is responsible
• C)it involves each venturer including its share of the income,expenses,assets and liabilities of the jointly controlled entity in its own financial statements
• D)all of the above

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