The Consolidated Statement of Financial Position at Year End,in a Period

question 40

Multiple Choice

The consolidated statement of financial position at year end,in a period when the parent sold its interests in a subsidiary:

• A) includes the assets and liabilities of the former subsidiary, to ensure that the opening balances reconcile.
• B) does not include the assets and liabilities of the former subsidiary, if the subsidiary is no longer controlled by the parent.
• C) reports the investment account at cost less proceeds of the sale.
• D) includes the assets and liabilities of the former subsidiary, proportionately adjusted for the proceeds of sale.

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