If Darlington Inc. owns 30% of a jointly controlled operation, it would reflect 100% of each asset, liability, income or expense that is part of the joint operation on its own financial statements.

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Quizplus · Accepted Answer

Darlington Inc. would only reflect 30% of each asset, liability, income or expense that is part of the joint operation on its own financial statements. Jointly controlled operations are reported using the equity method.