Definitions of minority interests

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Question 1: Which of the following are true definitions of Minority Interests (MI) & Minority Interests Provisions (MIP) ?

MI - Asset item showing our minority ownership in an entity >50% owned by someone else.
MIP - Provision for MI is generally shown as a separate expense line item on I/S.

Group of answer choices

Option 1: 1 is True, 2 is True

Option 2: 1 is True, 2 is False

Option 3: 1 is False, 2 is True

Option 4: 1 is False, 2 is False

Reference no: EM132577795

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