When Following the Economic Unit Concept in the Preparation of Consolidated

Multiple Choice

When following the economic unit concept in the preparation of consolidated financial statements, the basis for valuing the noncontrolling interest in net assets is the:

A) book values of subsidiary assets and liabilities.
B) fair values of subsidiary assets and liabilities.
C) general price level adjusted values of subsidiary assets and liabilities.
D) fair values of parent company assets and liabilities.