Fun with Florals Corporation Acquired All the Voting Shares of Crafts

question 27

Multiple Choice

Fun with Florals Corporation acquired all the voting shares of Crafts to Go Corporation under the purchase method.Which of the following statements about the consolidated statements is true?

• A)The assets and liabilities of Crafts to Go Corporation would be not revalued and disclosed at their market values on the date of acquisition.
• B)Fun with Florals will use the equity method of accounting for this investment.
• C)Fun with Florals will report Crafts to Go Corporation's revenues and expenses on a consolidated income statement.
• D)Fun with Florals will use the market value method of accounting for this investment.

Know the number of target points or areas needed for flat surface primary datums.

Acknowledge the impact of datum target placement on measurement accuracy.

Recognize the proportional size relationship between the datum-target symbol and the drawing lettering.

Understand the factors leading to the termination of an agency relationship by the act of the parties.

---

Definitions:

Competitive

Relating to or characterized by competition; having the ability or resources to compete successfully with others.

Imperfectly Competitive

A market structure characterized by few sellers, differentiated products, and barriers to entry, which does not meet the criteria of perfect competition.

Monopoly

A market structure characterized by a single supplier that has exclusive control over a good or service, potentially leading to higher prices and restricted output.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.