Petros Limited Is a Subsidiary of Butros Limited

question 9

Multiple Choice

Petros Limited is a subsidiary of Butros Limited.When Butros acquired its 60% interest the retained earnings of Petros Limited were $20 000.At the beginning of the current period Petros Limited's retained earnings had increased to $50 000.Petros earned profit of $10 000 during the current period.The share of the non-controlling interest in the equity of Petros Limited at reporting date is:

• A)$24 000
• B)$32 000
• C)$36 000
• D)$48 000.

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Definitions:

Integrated Financial Markets

Financial markets that are globally interconnected, allowing capital to move freely across borders, enhancing efficiency and liquidity.

Pastoral Societies

Communities whose primary means of subsistence is based on the rearing and breeding of livestock.

Subsistence Pattern

The means by which a society acquires its food resources, ranging from hunting and gathering to agriculture and industrial food production.

Hunting

The practice of tracking and killing wild animals for food, recreation, or trade, often regulated by laws to ensure sustainable populations.