The disclosure of minority interests in thE.(a)income statement; and (b)balance sheet; is as follows:
A) (a) profit or loss attributable to minority interest in the notes; (b) minority interest in equity as a separate line item.
B) (a) profit or loss attributable to minority interest on the face; (b) minority interest in equity as part of share capital.
C) (a) profit or loss attributable to minority interest in the notes; (b) minority interest in equity as part of share capital.
D) (a) profit or loss attributable to minority interest on the face; (b) minority interest in equity as a separate line item.
E) (a) profit or loss attributable to minority interest on the face; (b) minority interest as a liability, as a separate line item.

Question

Quizplus · Accepted Answer

Option D is the best choice because it correctly presents the disclosure of minority interests in both the income statement and balance sheet. The profit or loss attributable to minority interest should be presented on the face of the income statement as a separate line item. On the balance sheet, minority interest in equity should also be presented as a separate line item, rather than being part of share capital or shown as a liability.

The Disclosure of Minority Interests in ThE