Use the Following Information to Answer the Question(s) Below

question 45

Multiple Choice

Use the following information to answer the question(s) below.

On December 31, 2013, Giant Corporation's Investment in Penguin Corporation account had a balance of $500,000. The balance consisted of 80% of Penguin's $625,000 stockholders' equity on that date. Giant owns 80% of Penguin. On January 2, 2014, Penguin increased its outstanding common stock from 15,000 to 18,000 shares.

-Assume that Penguin sold the additional 3,000 shares directly to Giant for $150,000 on January 2,2014.Giant's percentage ownership in Penguin immediately after the purchase of the additional stock is

• A)66-2/3%.
• B)80%.
• C)83-1/3%.
• D)86-2/3%

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Definitions:

Explicit Memories

Memories that can be intentionally and consciously recalled, such as facts and events.

Implicit Memories

Memories that are not consciously recalled but affect behavior and knowledge, such as skills and tasks learned through repetition.

Implicit Memory

A type of memory that enables us to perform tasks without conscious awareness of these previous experiences, such as procedural memory for skills.

Classically Conditioned

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.