Under current GAAP, the amount of intercompany profit or loss to be deferred for consolidated reporting purposes is not affected by the existence of a noncontrolling interest.

Question

Quizplus · Accepted Answer

Under current GAAP, intercompany profits or losses are eliminated in full in consolidated financial statements, regardless of the presence of a noncontrolling interest.

Under Current GAAP, the Amount of Intercompany Profit or Loss