In the Calculation of NCI,share of Profit Consolidation Adjusting Entries

question 36

Multiple Choice

In the calculation of NCI,share of profit consolidation adjusting entries that do not change group profit will:

• A) be adjusted if they affect the subsidiary's reported profit.
• B) be adjusted if they affect the parent entity's reported profit.
• C) not be adjusted.
• D) none of the above.

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Definitions:

Private Goods

Goods that are characteristically excludable and rivalrous, meaning their use is limited to paying customers and one person's consumption prevents another's.

Public

The general population or community at large, often the recipient of information, services, or goods provided by governments or organizations.

External

Pertaining to or located outside of an entity or organization, often relating to the external environment, influences, or factors.

Common

Pertains to something that is usual, shared by multiple entities, or occurring frequently.