The Disclosure of Minority Interests in ThE

question 15

Multiple Choice

The disclosure of minority interests in thE.(a) income statement; and (b) balance sheet; is as follows:

• A) (a) profit or loss attributable to minority interest in the notes; (b) minority interest in equity as a separate line item.
• B) (a) profit or loss attributable to minority interest on the face; (b) minority interest in equity as part of share capital.
• C) (a) profit or loss attributable to minority interest in the notes; (b) minority interest in equity as part of share capital.
• D) (a) profit or loss attributable to minority interest on the face; (b) minority interest in equity as a separate line item.
• E) (a) profit or loss attributable to minority interest on the face; (b) minority interest as a liability, as a separate line item.

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Definitions:

Investing Activities

Financial activities related to the acquisition or sale of long-term assets and other investments that are not equivalent to cash.

Indirect Method

A cash flow statement preparation approach that adjusts net income for changes in non-cash accounts to compute cash flow from operating activities.

Direct Method

The direct method is a way of preparing cash flow statements where actual cash flows from operating activities are reported instead of adjustments from net income.

Direct Approach

A method used in accounting that focuses on the immediate recognition of revenues and expenses when they are incurred, without adjusting for accruals.