Xing Corporation Owns 80 Percent of the Voting Common Shares

question 33

Multiple Choice

Xing Corporation owns 80 percent of the voting common shares of Adams Corporation.Noncontrolling interest was assigned $24,000 of income in the 2009 consolidated income statement.What amount of net income did Adams Corporation report for the year?

• A)$150,000
• B)$96,000
• C)$120,000
• D)$30,000

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Definitions:

Recognizes

The act of identifying someone or something from previous encounters or knowledge.

Emotional Development

The process through which individuals recognize, manage, and express their emotions effectively throughout their lives.

Cognitive Development

This term involves the progression of brain functions including memory, problem-solving, and decision-making from infancy through adulthood.

Izard's Theory

A psychological framework proposing that humans have a set of innate emotions with specific triggers and expressions, influential in understanding emotional development.