Who Is Responsible for Ensuring That Public Resources Have Been

question 52

Multiple Choice

Who is responsible for ensuring that public resources have been properly allocated?

• A) the government tax department
• B) the police
• C) the government auditor
• D) the government accountants

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Definitions:

Non-Controlling Interest

The portion of equity in a subsidiary not attributable directly or indirectly to the parent company, also known as minority interest.

Voting Shares

Shares of stock that grant the holder the right to vote on corporate matters.

Cost Method

Accounting for investments where the investor does not exercise significant influence, recording the investment at initial cost and recognizing income only when dividends are received.

Unrealized Intercompany Gain

Profits recorded on the books resulting from transactions among subsidiaries that are not realized until sold to an external party.