Compute the Noncontrolling Interest in the Net Income of Demers

question 42

Multiple Choice

Compute the noncontrolling interest in the net income of Demers at December 31, 2019.

• A) $12,000.
• B) $10,600.
• C) $18,600.
• D) $20,000.
• E) $14,400.

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Definitions:

Title

A legal term referring to a person's legal rights to own, use, and dispose of property or assets; also, the document or deed proving such rights.

Agreement

A mutual understanding or contract between parties outlining the terms and conditions of a relationship or deal.

Repudiation

The refusal to perform an agreement or promise. A refusal to perform a contract.

Specific Performance

A legal remedy requiring a party to carry out their specific duties under a contract, rather than simply paying damages.