Chandler Ltd

question 19

Multiple Choice

Chandler Ltd. owns 65% of Stork Co. and accounts for its investment using the cost method. During 20X3, Chandler sold its only land holding to Stork for a $25,000 profit. At the end of 20X4, Stork showed the land on its single-entity financial statement at a value of $100,000. What balance should Chandler show on its consolidated statement of financial position for the land?

• A)$0
• B)$75,000
• C)$100,000
• D)$125,000

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Definitions:

'\n'

A character used in programming to represent a newline, signaling the end of a line of text.

Polymorphism

In object-oriented programming, the ability of different objects to respond to the same function call in different ways depending on their data types or classes.

Object-Oriented Language

A programming language that is based on the concept of "objects," which can contain data and code: data in the form of fields, and code, in the form of procedures.

Inheritance

A fundamental concept in object-oriented programming where a class can inherit properties and methods from another class.