Question

Which of the following is a kind of partial consolidation?

• A. Trust
• B. Holding company
• C. Community of interests
• D. All the above

Answer 1

Answer: (D)

All the above

It was a method of including income, expense, assets and liabilities in proportion to a firm's percentage of participation in a joint venture.Under U.S. generally accepted accounting principles (GAAP), a firm's interest in a joint venture is accounted for using the equity method.