The Consolidated Balance Sheet at Year-End,in a Period When the Parent

Multiple Choice

The consolidated balance sheet at year-end,in a period when the parent sold its interests in a subsidiary:

A) includes the assets and liabilities of the former subsidiary, to ensure that the opening balances reconcile.
B) does not include the assets and liabilities of the former subsidiary, if the subsidiary is no longer controlled by the parent.
C) reports the investment account at cost less proceeds of the sale.
D) includes the assets and liabilities of the former subsidiary, proportionately adjusted for the proceeds of sale.
E) None of the given answers.