Goehring,Inc

question 84

Multiple Choice

Goehring,Inc.owns 70 percent of Harry,Inc.The consolidated income statement for a year reports $40,000 Noncontrolling Interest in Harry,Inc.Income.Harry paid dividends in the amount of $100,000 for the year.What are the effects of these transactions on the consolidated statement of cash flows for the year?

• A)Increase in the financing section of $70,000,and decrease in the operating section of $30,000.
• B)Increase in the operating section of $70,000,and decrease in the financing section of $30,000.
• C)Increase in the operating section of $70,000.
• D)Decrease in the financing section of $30,000.
• E)No effects.

Understand the significance of balance of trade and measures to manage it.

Understand the basic principles of debits and credits in accounting transactions.

Comprehend the process and purpose of journalizing and posting transactions to ledger accounts.

Identify and apply the correct posting references in journal and ledger entries.

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Definitions:

Nightly News

A daily evening broadcast that summarizes the day's events, providing viewers with updates on local, national, and international news stories.

Semantics

The branch of linguistics and logic concerned with meaning, including the ways in which words and sentences relate to each other and to the objects they refer to.

Morphemes

The smallest meaningful units in the grammar of a language.

Functional Fixedness

A cognitive bias that limits a person to using an object only in the way it is traditionally used.