The line-by-line method of accounting for joint venture categories of jointly controlled operations and jointly controlled assets is the same as the proportionate consolidation method of accounting for jointly controlled entities.

Question

Quizplus · Accepted Answer

The line-by-line method and the proportionate consolidation method both involve combining the financial statements of the joint venture participants in proportion to their ownership interests.

The Line-By-Line Method of Accounting for Joint Venture Categories of Jointly