REFERENCE: Ref.05_01 Pot Co.holds 90% of the Common Stock of Skillet Co.During

question 54

Multiple Choice

REFERENCE: Ref.05_01
Pot Co.holds 90% of the common stock of Skillet Co.During 2009,Pot reported sales of $1,120,000 and cost of goods sold of $840,000.For this same period,Skillet had sales of $420,000 and cost of goods sold of $252,000.Also during 2009,Pot sold merchandise to Skillet for $140,000.The subsidiary still possesses 40% of this inventory at the end of 2009.Pot had established the transfer price based on its normal markup.
-What are consolidated sales and cost of goods sold?

• A)$1,400,000 and $952,000.
• B)$1,400,000 and $966,000.
• C)$1,540,000 and $1,078,000.
• D)$1,400,000 and $1,022,000.
• E)$1,540,000 and $1,092,000.

Appreciate the contributions of key theorists to the development of psychology and their associated schools of thought.

Identify characteristics and tactics used by proponents of pseudoscience versus those of scientific methods.

Recognize the influence of ethnocentrism on the interpretation of cultures.

Understand the contributions of neuroscience to psychology through the study of biological factors that influence behavior.

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Definitions:

Misleading Advertising

Advertising that deceives or misleads consumers, often through false claims or by failing to reveal critical information, which can influence buying decisions.

Unfair Business Practices

Activities that mislead, deceive, or are unethical towards consumers or other businesses.

Generational Cohort

A group of people born within the same period, often showing similar characteristics, preferences, and values.

Baby Bust

A temporary marked decrease in the birth rate.