CAF-6 · Chapter 9 · Question 15 of 15
In a Consolidated Statement of Profit or Loss, the 'Profit for the year' is:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Split/Allocated between the Parent shareholders and the NCI.
Explanation
The total group profit is shown first, and then it is allocated between the owners of the parent and the non-controlling interests.
More Consolidation (IFRS 10, IFRS 3) MCQs
- Q2Under IFRS 3 Business Combinations, the 'Acquisition Method' requires:
- Q3What is 'Non-Controlling Interest' (NCI)?
- Q4How is 'Goodwill' calculated on acquisition?
- Q5If the fair value of net identifiable assets acquired is HIGHER than the sum of consideration and NCI, the difference is recognized as:
- Q6A parent company owns 80% of a subsidiary. During the year, the subsidiary sells goods to the parent for Rs. 100,000 at a 20% markup on…