The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required: Determine the specific citation for accounting for the following:

The general partners in a limited partnership are presumed to control that limited partnership regardless of the extent of the general partners' ownership interest in the limited partnership.

The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required: Determine the specific citation for accounting for the following:

An entity has financial statement and disclosure alternatives that may provide additional useful information. For example, an entity may highlight the effects of consolidating a limited partnership by providing consolidating financial statements or separately classifying the assets and liabilities of the limited partnership(s) on the face of the balance sheet.