When Preparing a Consolidated Statement of Changes in Equity,AASB 10

question 6

Multiple Choice

When preparing a consolidated statement of changes in equity,AASB 10 Consolidated Financial Statements,requires that any non-controlling interest in equity of subsidiaries is:

• A)shown as a one-line item
• B)disclosed in the statement of financial position,and not in the statement of changes in equity
• C)shown as a share of total ending equity of the subsidiary only
• D)shown on a line-by-line basis.

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Definitions:

Pareto Optimal

A situation in which it is impossible to make any individual better off without making at least one individual worse off.

Pure Exchange Economy

An economic model where households or individuals purely exchange goods and services without any production.

Competitive Equilibrium

A state in a market-based economy where supply exactly matches demand, and market prices stabilize.

Fair

Pertaining to actions, policies, or procedures that are just, equitable, and impartial.