Liabilities

question 45

Multiple Choice

Liabilities:

• A) Must be certain.
• B) Must sometimes be estimated.
• C) Must be for a specific amount.
• D) Must always have a definite date for payment.
• E) Must involve an outflow of cash.

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Definitions:

Parent Company

A corporation that owns controlling interest in one or more other companies, referred to as subsidiaries.

Total NCI

Refers to the Total Non-Controlling Interest in a company, representing the equity in a subsidiary not attributable directly or indirectly to the parent company.

Parent Ltd

A corporation that holds a controlling interest in one or more other companies, also referred to as subsidiaries.

Indirect NCI

Non-controlling interest (NCI) that is not directly held by another entity but is held through one or more intermediaries.