Polly Received the Following Items This Year

question 82

Multiple Choice

Polly received the following items this year. Compute Polly's gross income.

• A) $59,600
• B) $58,000
• C) $53,000
• D) $50,000

---

Definitions:

Noncontrolling Interest

A stake in a company owned by minority shareholders that doesn’t give them control over the company's operational and financial decisions.

Noncontrolling Interest

A minority share in a subsidiary that is not enough to exert control, often reflected in the parent company's financial statements as part of equity but separate from the parent's equity.

Consolidated Balance Sheet

A financial statement that combines all the assets, liabilities, and equity of a parent company and its subsidiaries into one document.

Acquisition

The process by which one company purchases most or all of another company's shares to gain control of that company.