Parent Company Has a $50,000 Note Receivable from Subsidiary Company

question 78

Multiple Choice

Parent Company has a $50,000 note receivable from Subsidiary Company, and Subsidiary Company has a note payable to the Parent Company for $50,000. As part of the elimination entries:

• A)the note payable will be eliminated.
• B)the note receivable will be eliminated.
• C)both the note receivable and the note payable will be eliminated.
• D)neither the note payable or the note receivable will be eliminated.

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Definitions:

Thought-Activated

Technology or systems that are controlled by the user's thoughts or brain signals, often used in assistive devices and interfaces.

Expected Revenue

The projected amount of money a company anticipates generating from the sales of goods or services over a certain period.

Charge

The amount of money that is asked in exchange for goods or services.

Carnival Roulette

A term not commonly recognized or used in standard business, finance, or gaming contexts. NO.