For a Transaction to Require an Adjustment to the Calculation

question 4

Multiple Choice

For a transaction to require an adjustment to the calculation of a non-controlling interest share of equity it must have the following characteristics:
I. The transaction must result in the subsidiary recording a profit or a loss.
II. After the transaction the other party to the transaction must have on hand an asset on which unrealised profit is accrued.
III. The initial consolidation adjustment must affect both the statement of financial position and statement of comprehensive income.

• A) I and II only;
• B) I, II and III;
• C) II and III only;
• D) None of the above.

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