Which of the Following Is Not True Regarding Consolidations Under

question 61

Multiple Choice

Which of the following is not true regarding consolidations under IFRS?

• A)A parent and a subsidiary are permitted to have different accounting policies.
• B)While both IFRS and GAAP require a firm to consolidate entities it controls,IFRS defines control more broadly than does GAAP.
• C)The noncontrolling interest is classified on the balance sheet in the stockholders' equity section shown separate from the equity of the parent.
• D)On the income statement,noncontrolling interest is shown as a deduction from total entity (parent + 100% subsidiary)consolidated earnings.

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Definitions:

Erectile Disorder

A sexual dysfunction marked by the inability to achieve or maintain an erection suitable for sexual intercourse.

Sexual Activities

Behaviors involving sexual intercourse or other forms of physical sexual expression between individuals.

Romantic Partners

Individuals involved in a romantic relationship with each other, typified by emotional and physical intimacy.

Sexual Dysfunctions

Disorders related to any phase of the sexual response cycle, preventing individuals or couples from experiencing satisfaction from sexual activity.