1.

Current ratio is measured by Current assets / Current liabilities. Assume current ratio is greater than 100% (or 1:1) and that cash balance remains positive at all times. State the effect the following event occurring on the reporting date would have on this ratio.

EVENT: Receipts from unearned revenue

2.

A company reports Non-controlling interests within the equity section of its consolidated statement of financial position. Which of the following statements is correct? Group of answer choices

a. No single shareholder controls the company

b. Some of the companys shareholders are shareholders of another company

c. The company holds less than 100% of the shares in a subsidiary

d. The company is a subsidiary of another company

e. The company holds less than 50% of the shares in a subsidiary