4. Assume a parent company owns less than 100% of a long-controlled subsidiary. Which of the following statements is false? O Noncontrolling interest is classified as an owners' equity account. 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. O Goodwill is always assigned to the controlling and noncontrolling interests in the relative proportion of their ownership interests