Items on the Balance Sheet That Represent Amounts Owed to Others

question 85

Multiple Choice

Items on the balance sheet that represent amounts owed to others are termed

• A)assets.
• B)liabilities.
• C)revenues.
• D)expenses.
• E)none of the above.

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Definitions:

Non-Controlling Interest (NCI)

Equity interest in a subsidiary not attributable to the parent company, reflecting the minority shareholders' stake in the subsidiary's net assets.

Consolidated Balance Sheet

A financial statement showing the total assets, liabilities, and equity of a parent company and its subsidiaries as if they were a single entity.

Fair Value Enterprise Method

A valuation technique that estimates the price at which an asset or liability would be exchanged in an orderly transaction between market participants at the measurement date.

Consolidated Balance Sheet

A financial statement that summarizes the assets, liabilities, and equity of a company and its subsidiaries as a single entity.