Which of the following best describes non controlling interest?

A.

A noncontrolling interest describes a corporation that is managed by nonshareholders.

B.

A noncontrolling interest represents the claims of nonmajority shareholders in the assets and earnings of a company whose accounts are consolidated into the accounts of the major shareholder.

C.

A noncontrolling interest is in the subsidiary company not the parent company and is reported in the consolidated financial statement.

D.

Both b and c are correct.