The Consolidated Balance Sheet at Year-End,in a Period When the Parent

question 35

Multiple Choice

The consolidated balance sheet at year-end,in a period when the parent sold its interests in a subsidiary:

• A) includes the assets and liabilities of the former subsidiary, to ensure that the opening balances reconcile.
• B) does not include the assets and liabilities of the former subsidiary, if the subsidiary is no longer controlled by the parent.
• C) reports the investment account at cost less proceeds of the sale.
• D) includes the assets and liabilities of the former subsidiary, proportionately adjusted for the proceeds of sale.
• E) None of the given answers.

---

Definitions:

Asch Experiment

A series of psychological experiments conducted by Solomon Asch, demonstrating the power of conformity in groups.

Independents

Independents are individuals who do not affiliate with any established political party, often holding views or making decisions that are not strictly in line with mainstream party ideologies.

Social Loafing

The phenomenon where individuals exert less effort to achieve a goal when they work in a group compared to when they work alone.

Group Assignments

Educational tasks or projects undertaken by a group of students intended to foster teamwork and collaborative learning.