Information Everyone Knows That Does Not Have to Be Referenced

question 1

Multiple Choice

Information everyone knows that does not have to be referenced is called ________ knowledge.

• A) open
• B) general
• C) public
• D) normal

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Definitions:

Consolidated Net Income

Consolidated net income refers to the total earnings of a parent company and its subsidiaries after taxes and expenses, adjusted for minority interests.

Consolidated Retained Earnings

The cumulative amount of net income earned by a parent company and its subsidiaries, less any dividends paid, as presented in consolidated financial statements.

Consolidated Net Income

Consolidated net income refers to the total profit of a parent company and its subsidiaries after all intercompany transactions have been eliminated, representing the overall earnings of the corporate group.

Parent

The entity that controls one or more subsidiaries through ownership of the majority of voting rights or through other means.