Assume That Oslo Corp

question 126

Multiple Choice

Assume that Oslo Corp. acquires 30% of Celdon Corp. for $300,000 on January 1, 2014. The journal entry on Oslo's books assuming Celdon's net income for 2014 was $500,000 would include a debit to

• A) No entry is necessary.
• B) Cash for $500,000.
• C) Cash for $150,000.
• D) Stock Investments for $150,000.

Comprehend the principles of web security and access control.

Recognize various types of software licensing and copyright laws.

Understand the importance of proper software maintenance, including updates, patches, and upgrades.

Grasp the role of software and apps in improving personal and business processes.

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Definitions:

Financial Advantage

The benefit gained from making economic decisions that result in increased wealth or financial health.

Average Cost

A method of cost valuation that calculates the cost of goods sold and inventory based on the average cost of all similar items in inventory.

Fixed Manufacturing Overhead

Costs that do not vary with the level of production, such as rent, salaries, and equipment depreciation, associated specifically with manufacturing.

Financial Advantage

The benefit gained in financial terms, which can result in better profitability or cost savings.