REFERENCE: Ref.05_03 Strickland Company Sells Inventory to Its Parent,Carter Company,at a Profit

question 87

Multiple Choice

REFERENCE: Ref.05_03
Strickland Company sells inventory to its parent,Carter Company,at a profit during 2009.Select the correct answer.
-With regard to the intercompany sale,which of the following choices would be a debit entry in the consolidated worksheet for 2009?

• A)Retained earnings.
• B)Cost of goods sold.
• C)Inventory.
• D)Investment Strickland Company.
• E)Additional paid-in capital.

---

Definitions:

Domestic Violence

A pattern of behavior in any relationship that is used to gain or maintain power and control over an intimate partner, encompassing physical, sexual, emotional, economic, or psychological actions.

Domestic Assault

An act of violence or aggressive behavior within the home, typically involving the violent abuse of a family member or partner.

Pre-industrialised Societies

Societies characterized by an economy based on agriculture and handicrafts, lacking the technological developments and industrial infrastructure of modern societies.

Machismo

A code in which challenges, abuse, and even differences of opinion must be met with fists or other weapons.