Beethoven Ltd Acquired 20% and Significant Influence Over the Operations

Multiple Choice

Beethoven Ltd acquired 20% and significant influence over the operations of Chopin Ltd and control over the operations of Mend Ltd on 1 July 20X0.Chopin Ltd reported a profit of $800 000 for the year ended 30 June 20X1.For its financial year ended 30 June 20X1, Beethoven Ltd would report a share of Chopin Ltd's profit of:

A) $200 000 in its separate financial statements
B) $200 000 in its consolidated financial statements
C) $160 000 in its separate financial statements
D) $160 000 in its consolidated financial statements