Which of the Following Statements Regarding the Non-Controlling Interest Is

question 54

Multiple Choice

Which of the following statements regarding the non-controlling interest is FALSE?

• A)The non-controlling interest must be allocated a portion of the comprehensive income of the group as well as a portion of the net assets of the group.
• B)When a subsidiary has foreign currency transactions, and records foreign currency gains or losses, the non-controlling interest will be allocated a portion of those gains or losses since it shares in the net income of the subsidiary.
• C)For the purpose of the allocation to the non-controlling interest, the financial statement of the subsidiary is first translated into the functional currency.
• D)In addition to foreign currency transactions, the subsidiary may have a functional currency that is different than the parent's functional currency.

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Definitions:

Physiological Changes

Alterations in the body's normal biological functions, which can be due to growth, environmental factors, disease, or medical conditions.

Representative Sample

A portion of a population that serves as an accurate reflection of the overall population's members.

Kinsey

Referring to Alfred Kinsey, an American biologist known for his research on human sexuality in the mid-20th century.

Interviewer

A person who asks questions in a formal or informal setting to gather information, often for a job position or research purposes.