The Net Incomes for Parent and Sub Inc for the Year

question 16

Multiple Choice

The Net Incomes for Parent and Sub Inc for the year ended July 31, 2012 were $120,000 and $60,000 respectively. Assume that Parent Inc. purchased a controlling interest in Sub Inc. on August 1, 2012 and decides to prepare an Income Statement for the combined entity on the date of acquisition. If Parent acquired 100% of Sub Inc. on that date, what would be the net income reported for the combined entity (for the year ended July 31, 2012) ?

• A) $60,000
• B) $120,000
• C) $180,000
• D) Nil

Recognize the significance of systematic desensitization in treating phobias.

Understand various psychotherapy approaches in treating maladaptive behaviors and mental disorders.

Understand the concept of stereotypes and how they affect perceptions and interactions between groups.

Explain the psychological theories related to intergroup relations such as realistic group conflict theory, social identity theory, and stereotype threat theory.

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Definitions:

Calories Expended

The total amount of energy used by the body, including during physical activity, digestion, and maintaining bodily functions.

Moderate-Intensity Cycling

A cardiovascular exercise that involves riding a bike at a pace that raises the heart rate to 50-70% of its maximum.

Shoveling Snow

Physical activity of moving snow with a shovel to clear areas, which can be demanding on the body and heart.

Excess Calories

Consuming more calories than the body uses, potentially leading to weight gain and associated health risks.