Final answer:
True, a company with a noncontrolling interest in a subsidiary must present an allocation of net income or loss attributable to that interest in the consolidated financial statements.
Step-by-step explanation:
When a company holds a noncontrolling interest in a subsidiary, it is indeed true that the company must present an allocation of net income or loss that is attributable to the noncontrolling interest. This requirement is part of the consolidated financial statements, which provide a comprehensive view of the financial position of the parent company and its subsidiaries as if they are a single economic entity.
In the consolidated income statement, the portion of net income attributed to the parent's shareholders and the amount attributed to the noncontrolling interest are presented separately. This shows the earnings attributable to both the majority and minority ownership interests in a subsidiary.