Under IAS 27, Where Does the Non-Controlling Interest (NCI)appear on the Statement

question 35

Multiple Choice

Under IAS 27, where does the non-controlling interest (NCI) appear on the statement of financial position?

• A)Under the liabilities section
• B)Under the shareholders' equity section
• C)Between the liabilities and shareholders' equity sections
• D)NCI does not appear on the statement of financial position.

---

Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Underapplied Overhead

Occurs when the allocated manufacturing overhead cost is less than the actual overhead incurred, leading to a shortfall in cost coverage.

Work in Process

Inventory that includes goods partially through the manufacturing process but not yet completed.

Predetermined Overhead Rate

The predetermined overhead rate is calculated before a period begins and is used to allocate overhead costs to products or job orders based on a consistent activity base.