Orange Corporation Owns 70 Percent of the Voting Common Shares

question 25

Multiple Choice

Orange Corporation owns 70 percent of the voting common shares of McNichols Corporation,purchased at book value.Noncontrolling interest was assigned $21,000 of income in the 20X0 consolidated income statement.What amount of net income did McNichols Corporation report for the year?

• A) $70,000
• B) $63,000
• C) $30,000
• D) $147,000

---

Definitions:

Occupational Accidents

Unexpected events that occur in the workplace resulting in injury or harm to an employee.

OSHA Representatives

Officials or inspectors from the Occupational Safety and Health Administration, responsible for enforcing safety and health standards in workplaces.

Discriminate

To differentiate or make a distinction in treatment or favor on a basis other than individual merit.

Retaliate

To take counteraction or revenge, often in response to perceived harm or injustice.