Anthony and Cleopatra Create a Joint Venture to Distribute Artifacts

question 7

Multiple Choice

Anthony and Cleopatra create a joint venture to distribute artifacts.Anthony contributes 70% and Cleopatra 30% of the cash for assets purchased from Tomb Company.How would Anthony report information about Cleopatra on Anthony's financial statements?

• A)Not at all
• B)In a footnote
• C)As a liability
• D)As a noncontrolling interest

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Definitions:

Engineered Safety Devices

Devices specifically designed to isolate or remove a hazard. These include needles with safety shields and self-shielding needles.

NIOSH

The National Institute for Occupational Safety and Health, a U.S. federal agency responsible for conducting research and making recommendations to prevent work-related injury and illness.

Bloodborne Pathogen

A disease-causing microorganism carried in a host’s blood and transmitted through contact with infected blood, tissue, or body fluids.