In the Consolidation Worksheet for 2017, Which of the Following

question 52

Multiple Choice

In the consolidation worksheet for 2017, which of the following accounts would be credited to eliminate unrecognized intra-entity gross profit with regard to the 2017 intra-entity transfers?

• A) Retained earnings.
• B) Cost of goods sold.
• C) Inventory.
• D) Investment in Fisher Company.
• E) Sales.

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Definitions:

Product Knowledge

The understanding and information a company or individual has about a product’s features, benefits, application, and use.

Demographic Segmentation

The process of dividing a market into segments based on demographic factors such as age, gender, income, education, and ethnicity to better target marketing efforts.

Lifestyle

A way of life or style of living that reflects the attitudes and values of a person or group.

Segmentation Bases

Criteria used to divide a market into discrete customer groups based on shared characteristics.