Multiple Choice
If the sale of an investment in a subsidiary is deemed to be a disposal of a component of the entity, the appropriate accounting treatments for the results its operations for the period and the gain or loss on the sale are: Results of Operations for the Period Gain or Loss on the Sale
A) Normal recurring operations Extraordinary item
B) Discontinued operations Discontinued operations
C) Normal recurring operations Normal recurring operations
D) Normal recurring operations Discontinued operations
Correct Answer:
Verified
Correct Answer:
Verified
Q2: A new subsidiary is being formed.The parent
Q3: Company P owns a 90% interest in
Q4: Partridge purchased a 60% interest in
Q5: Pine Company purchased a 60% interest in
Q6: Parent Company owns an 80% interest in
Q8: Company P has consistently sold merchandise
Q9: On January 1, 2016, Company P
Q10: Page Company purchased an 80% interest
Q11: Patten Company purchased an 80% interest in
Q12: When you create an income distribution schedule