The Net Incomes for Parent and Sub Inc for the Year

question 54

Multiple Choice

The Net Incomes for Parent and Sub Inc for the year ended July 31, 2012 were $120,000 and $60,000 respectively. Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2012, what amount would appear in the Non- Controlling Interest Account on the Consolidated Balance Sheet on the date of acquisition if the Proprietary Method were used?

• A) Nil
• B) $100,000
• C) $120,000
• D) $200,000

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Definitions:

Cardiovascular Disease (CVD)

Disorders of the circulatory system, including coronary artery disease and stroke.

Stress

A physical or mental response to an external cause, such as environmental conditions or demanding circumstances, that can affect individuals' health and well-being.

Precipitate Heart Attacks

Sudden events where heart attacks are induced rapidly due to various risk factors, potentially resulting in immediate severe consequences.

Predictor of Heart Disease

Factors or conditions believed to increase the likelihood of developing heart-related illnesses, such as high blood pressure, cholesterol levels, and smoking.