Patten Company Purchased an 80% Interest in Salty Inc

question 11

Multiple Choice

Patten Company purchased an 80% interest in Salty Inc.on January 1, 2016, for $500,000 when the stockholders' equity of Salty was $500,000.Any excess of cost was attributed to a building with a 20-year life.On July 1, 2019, Patten sold part of its investment and reduced its ownership interest to 60%.Salty earned $62,000, evenly, during 2019.The NCI share of 2019 consolidated income is

• A)​$10,000
• B)​$12,400
• C)​$16,725
• D)​$43,400

Comprehend the role of sociological theories in interpreting cultural phenomena.

Understand the concept of a holder in due course and the requirements for becoming one.

Identify and differentiate between personal (contractual) defenses and real defenses in the context of negotiable instruments.

Recognize the effects of unauthorized signatures and forgeries on the negotiation and enforceability of negotiable instruments.

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Definitions:

Own Conclusions

Personal judgments or decisions made after considering the information or evidence at hand.

Increases Persuasiveness

Enhancing the ability to convince others to agree with an argument, viewpoint, or request.

Distraction in Persuasion

The use of unrelated stimuli to divert attention during persuasion to potentially increase susceptibility to the message.

Weak Argument

Describes a line of reasoning lacking in persuasiveness, either through poor logic or insufficient evidence.