If the Equity Method Is Being Used, the Income from Associates

question 68

Multiple Choice

If the equity method is being used, the Income from Associates account is

• A)another name for a Dividend Income account.
• B)credited when dividends are declared by the investee.
• C)credited when net income is reported by the investee.
• D)debited when net income is reported by the investee.

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Definitions:

Claims

Assertions or demands for something due or believed to be due, often used in the context of insurance or legal cases.

Frequency Histogram

A graphical representation of data showing the number of observations within each given interval, often used to depict the distribution of dataset.

Classes

Categories or groups into which data or objects are organized based on shared characteristics or attributes.

Supermarket's Sales

The total revenue generated from the sale of goods and services at a supermarket.