Peregrine Corporation Acquired an 80% Interest in Serine Corporation in 2011

question 27

Multiple Choice

Peregrine Corporation acquired an 80% interest in Serine Corporation in 2011 at a time when Serine's book values and fair values were equal to one another. On January 1, 2014, Serine sold a truck with a $55,000 book value to Peregrine for $100,000. Peregrine is depreciating the truck over 10 years using the straight-line method. The truck has no salvage value. Separate incomes for Peregrine and Serine for 2014 were as follows: Peregrine's investment income from Serine for 2014 was

• A) $108,000.
• B) $144,000.
• C) $147,600.
• D) $180,000.

Acknowledge the significance of social institutions (e.g., education, religion) in shaping societal norms and values.

Understand the role of media and technology in modern politics, including the concept of simulacrum.

Discern the impact of celebrity endorsements and public figures on political outcomes and public opinion.

Grasp the importance of education as a means of societal indoctrination and value transmission.

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Definitions:

Tertiary Sector

The segment of the economy that provides services rather than producing goods, including sectors like retail, education, and health care.

Economist

A professional in the social science discipline of economics, concerned with the analysis of goods and services distribution, consumption, and production.

Shoshana Zuboff

A scholar and author who specializes in the study of the digital economy, especially in regard to the social and economic impacts of technology.

New Computer System

A recently introduced or updated configuration of hardware and software designed to perform a series of tasks or solve specific problems.