For an Intragroup Transaction to Require an Adjustment to the Calculation

question 34

Multiple Choice

For an intragroup transaction to require an adjustment to the calculation of the non-controlling interest share of equity it must have which of the following characteristics:
I The transaction must result in the subsidiary recording a profit or a loss.
II After the transaction the other party (not the party holding the non-controlling interest) 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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