Bird Corporation Has Several Subsidiaries That Are Included in Its

question 25

Multiple Choice

Bird Corporation has several subsidiaries that are included in its consolidated financial statements and several other investments in corporations that are not consolidated. In its year-end trial balance, the following intercompany balances appear. Ostrich Corporation is the unconsolidated company; the rest are consolidated. What amount should Bird report as intercompany receivables on its consolidated balance sheet?

• A) $0
• B) $10,000
• C) $30,000
• D) $63,000

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Definitions:

Job Context

The conditions, environment, and circumstances under which a job is performed, including physical, social, and psychological aspects.

Value

The importance, worth, or usefulness of something, often influencing decisions and behaviors.

Mental

Pertaining to the mind or psychological processes, including thoughts, emotions, and cognitive functions.

Accountability

The responsibility to report, explain, and be answerable for resulting consequences of one's actions.