Which of the following is not required to be shown on the face of the income statement?
A) Tax Expense.
B) Revenue.
C) Share of profit or loss of joint ventures using the equity method.
D) Profit or loss attributable to minority interests.
E) Share of profit or loss of joint ventures using the proportional consolidation method.

Question

Quizplus · Accepted Answer

The share of profit or loss of joint ventures using the proportional consolidation method is not shown on the face of the income statement because proportional consolidation is not a method used under IFRS or US GAAP for joint ventures. Instead, the equity method is used, and its results are shown on the income statement.

Which of the Following Is Not Required to Be Shown