When a USSubsidiary in Another Country Remits Profits Back to Its Parent

question 30

Multiple Choice

When a U.S.subsidiary in another country remits profits back to its parent company in the U.S.,the receipt of profits is recorded in the ________.

• A) income receipts account and given a plus sign
• B) income receipts account and given a minus sign
• C) income payments account and given a plus sign
• D) income payments account and given a minus sign

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