Which of the following statements is incorrect?
A) The calculation of the NCI is not affected by profits or losses relating to intra-group transactions.
B) The NCI is entitled to a share of the group's consolidated equity.
C) The NCI is a contributor of equity to the consolidated group.
D) The NCI is entitled to a share of the subsidiary's equity adjusted for the effects of profits or losses made on intra-group transactions.
Correct Answer:
Verified
Q1: According to AASB 10/IFRS 10 Consolidated Financial
Q2: Ownership interests in a subsidiary entity that
Q3: Wendy Limited paid $120 000 for 75%
Q5: Fisher Limited acquired 75% of the share
Q6: When presenting a consolidated statement of comprehensive
Q7: Mooloolaba Limited owns 90% of the share
Q8: King Limited paid $220 000 for 70%
Q9: Where the NCI is measured at fair
Q10: Jack Limited acquired 80% of the share
Q11: The non-controlling interest columns on a consolidation
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