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The Manitoba Humane Society (Manitoba) is a not-for-profit organization and has a relationship with the Winnipeg Animal Shelter (Winnipeg), another not-for-profit organization. This relationship gives
The Manitoba Humane Society (Manitoba) is a not-for-profit organization and has a relationship with the Winnipeg Animal Shelter (Winnipeg), another not-for-profit organization. This relationship gives Manitoba the continuing power to determine the strategic operating, investing, and financing policies of Winnipeg without the cooperation of others. This control by Manitoba of Winnipeg is evidenced in part by Manitoba's ability to appoint 8 of Winnipeg's 12 members of the board of directors. Which of the following is true? Multiple Choice Manitoba must consolidate the accounts of Winnipeg in its financial statements. Manitoba may either consolidate the accounts of Winnipeg or use the equity method with footnote disclosures about Winnipeg. Manitoba must use the equity method of accounting for Winnipeg with footnote disclosures about Winnipeg. Manitoba may either consolidate the accounts of Winnipeg in its financial statements or provide footnote disclosures about Winnipeg
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