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.

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Definitions:

Intra-entity Gross Profit

The profit recognized from transactions within the same company, affecting consolidated financial statements.

Eliminate Unrecognized

The process of removing gains, losses, or other items that have not been realized or acknowledged formally from the financial statements.

Intra-entity Gross Profit

The profit recorded from transactions that occur within the same entity, often eliminated in consolidation.

Eliminate Intra-entity Transfer

The process of removing sales and purchases of goods or services made between companies within the same corporate group in consolidated financial statements.