Companies A,B and C Are All Part of the One

question 45

Multiple Choice

Companies A,B and C are all part of the one economic entity,but are all separate legal entities required to prepare their own financial statements.Company A sold Company B's inventory that cost $56 000 for $78 000.At the end of the same period Company B has three-quarters of that inventory still on hand and the rest has been sold to an entity outside the economic group.At what amount should the inventory remaining in Company B be recorded in Company B's own financial statements?

• A) $42 000
• B) $58 500
• C) $56 000
• D) $14 625

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Definitions:

Middle-Aged Women

Females generally within the age range of 45 to 65 years, often experiencing transitional life phases both biologically and socially.

Teenage Boys

Males typically within the age range of 13 to 19 years, going through various physical, mental, and social changes during adolescence.

Fear Of Weight Gain

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Females of European descent living in the United States, including those with heritage from any European country.