Which of the following statements about the modified equity method is FALSE?
A)When a government reports on a GBE, it does so applying the modified equity method.
B)Under the modified equity method, financial position and operating results are presented as they are using equity method.
C)When a GBE reports other comprehensive income, it is reported on a single line on the statement of remeasurement gains and losses.
D)Under the modified equity method, adjustments are made to conform the financial position or operating results of the GBE to the accounting principles followed by the government.

Question

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The Answer of Which of the following statements about the modified equity method is FALSE?
A)When a government reports on a GBE, it does so applying the modified equity method.
B)Under the modified equity method, financial position and operating results are presented as they are using equity method.
C)When a GBE reports other comprehensive income, it is reported on a single line on the statement of remeasurement gains and losses.
D)Under the modified equity method, adjustments are made to conform the financial position or operating results of the GBE to the accounting principles followed by the government.

Which of the Following Statements About the Modified Equity Method