Listen Which ONE of the following statements is FALSE? If a parent loses control of a subsidiary and no longer holds an equity interest in the former subsidiary, it recognizes a gain or loss for the difference between any proceeds received from the event leading to loss of control and the carrying amount of the parent's equity interest Other comprehensive income accounts are closed to retained earnings at the end of each period. Two reasons a parent may no longer control a subsidiary are (1) the parent sells some or all of its interest in the subsidiary and (2) the subsidiary issues additional common stock. Question 11 (3 points) Listen LP Listen Which ONE of the following statements is FALSE? Two reasons a parent may no longer control a subsidiary are (1) the parent enters into an agreement to relinquish control and (2) the subsidiary comes under the control of a government or other regulator Comprehensive income equals the difference between net income and accumulated other comprehensive income. If a parent loses control but maintains a noncontrolling equity interest in a former subsidiary, it must recognize a gain or loss for the difference between (1) the sum of any proceeds received by the parent and the fair value of the remaining equity in the former subsidiary and (2) the carrying amount of the parent's total interest in the subsidiary. uestion 12 (8 points)