Examlex
Each of the following is true regarding school practices and development of E/BD EXCEPT
Entity Theory
A concept in accounting that treats a business as separate from its owners or other businesses, supporting the preparation of separate financial statements.
Consolidated Net Income
The total net income of a parent company and its subsidiaries after eliminating intercompany transactions, presented in a consolidated financial statement.
Non-Controlling Interest
The portion of equity in a subsidiary not attributable, directly or indirectly, to a parent company.
Intercompany Profits
Profits that arise from transactions between companies under the same parent company, usually eliminated during consolidation of financial statements.
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