14. Consolidation of noncontrolling interest Assume a parent company owns less than 100% of a long-controlled subsidiary. Which of the following statements is false? a. Balance sheet presentation of noncontrolling interest is necessary because consolidated balances always reflect 100% of the net assets of the subsidiary. Noncontrolling interest represents the portion of the subsidiary's net assets that is not owned by the parent. b. C. d. Goodwill is always assigned to the controlling and noncontrolling interests in the relative proportion of their ownership interests. Noncontrolling interest is classified as an owners' equity account.