Multiple Choice
A non-controlling interest is entitled to a share of which of the following items? I Equity of the group entity at acquisition date
II Current period profit or loss of the subsidiary entity
III Changes in equity of the subsidiary between acquisition date and the beginning of the financial period
IV Equity of the subsidiary at acquisition date
A) I, II and III only
B) I and II only
C) II, III and IV only
D) III only
Correct Answer:

Verified
Correct Answer:
Verified
Q34: Wendy Limited paid $120 000 for 75%
Q35: Where a subsidiary is partly owned by
Q36: When presenting a consolidated statement of financial
Q37: The entry to reflect the NCI share
Q38: Happy Ltd holds a 60% interest in
Q40: The NCI is unaffected by the existence
Q41: For transactions involving intragroup services, it is
Q42: When preparing consolidated financial statements, any profit
Q43: A current year transfer by a partly
Q44: Mooloolaba Limited owns 90% of the share