A concurrent liability non controlling interest arises if a

A concurrent liability, non controlling interest, arises if _______. a) a firm owns less than 50% of another entity b) noncontrolling interest is accounted for as an equity item c) a firm owns 100% of another entity d) a firm owns more than 50%, but less than 100%, of another entity

Solution

Answer d) is correct. Non controlling interest arises when a firm owns more than 50%, but less than 100%, of another entity.