The GAAP states a noncontrolling interest in a subsidiary should be labeled and displayed as a separate financial note to the consolidated balance sheet.

Question

Quizplus · Accepted Answer

According to GAAP (Generally Accepted Accounting Principles), a noncontrolling interest in a subsidiary is not merely a note but should be reported in the consolidated balance sheet within equity, separate from the parent company's equity.

The GAAP States a Noncontrolling Interest in a Subsidiary Should