Under the conceptual framework for international financial reporting a non-controlling interest fits the definition of:
A) a liability.
B) an equity item.
C) an asset.
D) an expense.

Question

Quizplus · Accepted Answer

A non-controlling interest (NCI) represents the portion of a subsidiary's equity that is not controlled by the parent company. It is considered an equity item under the conceptual framework for international financial reporting.

Under the Conceptual Framework for International Financial Reporting a Non-Controlling