Solved

Unrealised Intragroup Profit in Opening Inventory of a Parent Company

Question 11

Multiple Choice

Unrealised intragroup profit in opening inventory of a parent company is:


A) added to subsidiary profit in calculating NCI share of profit.
B) subtracted from subsidiary profit in calculating NCI share of profit.
C) ignored in calculating NCI share of profit.
D) none of the above.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q6: Outline how NCI will be disclosed in

Q7: Company A owns 40% of Company B

Q8: The shareholders of the parent entity in

Q9: Preference shares of a subsidiary not owned

Q10: A subsidiary's recorded profits and retained earnings

Q12: Under full consolidation,only the income,expenses,assets,liabilities and equity

Q13: Which of the following statements is correct?<br>A)

Q14: Why does AASB 3 allow a choice

Q15: Accounting Standard AASB 3 Business Combinations allows

Q16: Consistent with the entity concept,full consolidation requires