Noncontrolling interest Is reported as a separate item below net income or loss. a. Is shown in a separate section of the income statement after continuing operations but before discontinued operations net of tax. b. Is shown in a separate section of the income statement after discontinued operations, net of tax. c. Is not shown on the face of the income statement.

Question

Business

Robert Gaines

2 January, 00:30

Noncontrolling interest Is reported as a separate item below net income or loss. a. Is shown in a separate section of the income statement after continuing operations but before discontinued operations net of tax. b. Is shown in a separate section of the income statement after discontinued operations, net of tax. c. Is not shown on the face of the income statement.

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Jacob Cannon · Answer 1

The answer is:

reported as a separate item below net income or loss

Explanation:

Non-controlling interest is reported as a separate item below net income or loss.

Non-controlling interest (NCI) is that part of equity ownership in a subsidiary that is not attributable to the parent company. It is known as minority interest. The shareholders in this category has less influence in running the parent company. Their shares is usually less than 50%