Portia Ltd

question 31

Multiple Choice

Portia Ltd. acquired 80% of Siro Ltd. on December 31, 20X0. At the acquisition date, Siro's net assets totalled $15,000. Portia uses the cost method to record the acquisition and consolidates using the entity method. At December 31, 20X1, the separate-entity financial statements showed the following:
- During 20X1, Siro sold $7,000 of goods, with a gross margin of 40%, to Portia. At the end of 20X1, $3,000 of the goods were still in Portia's inventory. What portion of consolidated net income for 20X1 is attributable to Portia?

• A)$6,120
• B)$6,240
• C)$6,600
• D)$7,080

Grasp the principles and applications of polymerase chain reaction (PCR) technology.

Identify the purpose and technique of gene targeting and its applications in genetic research.

Understand the selection process in bacterial transformation using antibiotic resistance.

Recognize the significance of genetic variations and polymorphisms within populations.

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Definitions:

Menstruating

The monthly process in which the lining of the uterus is shed through the vagina, a natural part of the female reproductive cycle.

Pubic Lice

Phthirus pubis, colloquially known as crabs; tiny lice that infest the pubic hair.

Genital Herpes

A sexually transmitted infection caused by the herpes simplex virus, leading to blisters and sores on the genital area.

Human Papillomavirus

See also genital human papillomavirus infection or genital HPV.