Apple IncOwns a 90% Interest in Banana Company

question 29

Multiple Choice

Apple Inc.owns a 90% interest in Banana Company.Banana Company, in turn, owns a 80% interest in Carrot Company.During 2019, Carrot Company sold $50,000 of merchandise to Apple Inc.at a gross profit of 20%.Of this merchandise, $10,000 was still unsold by Apple Inc.at year end.The adjustment to the controlling interest in consolidated net income for 2019 is ____.

• A)​$560
• B)​$1,440
• C)​$1,600
• D)​$1,800

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Definitions:

Formal Social Movement

A large, well-integrated, and established organization with bureaucratic procedures.

National Rifle Association

is an American organization that advocates for gun rights, focusing on the protection of the Second Amendment of the U.S. Constitution.

Gun Control

Legislation and policies designed to regulate the manufacture, sale, transfer, possession, modification, or use of firearms by civilians.

Conflict Theory

A theoretical framework in sociology that emphasizes the role of power struggles and inequality in shaping social structures and relationships.