A Parent's Consolidated Net Income Which Includes It's Fully and Partially

question 26

Multiple Choice

A parent's consolidated net income which includes it's fully and partially owned subsidiaries is best described as:

• A)Net income recorded by the parent
• B)Net income reported by both the parent and subsidiaries.
• C)Net income reported by the parent and it's share of net income of subsidiaries
• D)Income for both the parent and subsidiaries resulting from transactions with third parties.

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Definitions:

Spending Variances

Differences between the actual and budgeted amounts of money spent during a period.

Customers Served

The total number of unique customers who receive services or products from a business during a specific period.

Budgeting Formulas

Mathematical expressions or rules used to plan and control income and expenditure over a specified period.

Actual Results

Refers to the real, achieved outcomes of financial and operational activities within a specific period.