A Subsidiary Sold Inventory to Its Parent Entity in Year

question 28

Multiple Choice

A subsidiary sold inventory to its parent entity in Year 1 at a profit of $5000. At balance sheet date the parent had not sold the inventory. The company tax rate is 30%. The Year 1 consolidation worksheet will contain the following adjustment entry for inventory:

• A) DR Inventory $5 000
• B) DR Inventory $ 3 500
• C) CR Inventory $5 000
• D) CR Inventory $3 500

Recognize the influence of current emotions on decision-making and problem-solving abilities.

Identify the role of various emotions (e.g., anxiety, sadness, disgust) in influencing decisions and behaviors.

Understand how arousal levels (Yerkes-Dodson law) affect performance and concentration.

Learn about the concept of emotional intelligence and its importance in personal and professional contexts.

---

Definitions:

Distribution

The process of delivering products from the supplier or manufacturer to the end consumer through various distribution channels.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that guide how companies prepare and present their financial statements.

Income Statement

A document presenting a firm's income, expenses, and profits during a certain timeframe.

Distribution

The process of making a product or service available for the user or consumer.