The line by line method of accounting is required for interests in joint ventures which are:

Question

Quizplus · Accepted Answer

The line by line method of accounting is required for interests in joint ventures that involve both jointly controlled operations and jointly controlled assets. Therefore, options B and C are correct, and the correct answer is D. Jointly controlled entities do not necessarily require the line by line method, so option A is not correct.

The Line by Line Method of Accounting Is Required for Interests