Total Comprehensive income must be allocated to both the parent and the non-controlling interest (NCI) shareholder groups.

Question

Quizplus · Accepted Answer

Total comprehensive income includes both net income and other comprehensive income (OCI). As both the parent and NCI shareholders have ownership in the company, they are entitled to their respective share of the total comprehensive income. Therefore, total comprehensive income should be allocated to both the parent and NCI shareholder groups.

Total Comprehensive Income Must Be Allocated to Both the Parent