1. Which is true regarding the Investment in Subsidiary Stock account? A. It is accounted for in the parent’s books and is included as non – current assets in the parent’s balance sheet B. It is not included in the consolidated balance sheet of parent and subsidiary C. It is decreased and or increased by the difference between fair value and book value of net assets of the subsidiary for consolidation purposes. D. All of the above 2. Which is true regarding the Non controlling interest? A. It is accounted for in the subsidiary’s books and is included on the Equity section of the subsidiary’s balance sheet B. It is accounted for in the parent’s books and is included on the Equity section of the parent’s balance sheet C. It is shown in the consolidated financial position as a separate section between the liabilities and equity D. It is shown in the consolidated financial position as an element of shareholders’ entity
1. Which is true regarding the Investment in Subsidiary Stock account?
A. It is accounted for in the parent’s books and is included as non – current assets in the parent’s balance sheet
B. It is not included in the consolidated balance sheet of parent and subsidiary
C. It is decreased and or increased by the difference between fair value and book value of net assets of the subsidiary for consolidation purposes.
D. All of the above
2. Which is true regarding the Non controlling interest?
A. It is accounted for in the
B. It is accounted for in the parent’s books and is included on the Equity section of the parent’s balance sheet
C. It is shown in the consolidated financial position as a separate section between the liabilities and equity
D. It is shown in the consolidated financial position as an element of shareholders’ entity
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