Parent Sold Land to Its Subsidiary for a Gain in 2007.The

question 98

Multiple Choice

Parent sold land to its subsidiary for a gain in 2007.The subsidiary sold the land externally for a gain in 2010.Which of the following statements is true?

• A)A gain will be reported on the consolidated income statement in 2007.
• B)A gain will be reported on the consolidated income statement in 2010.
• C)No gain will be reported on the 2010 consolidated income statement.
• D)Only the parent company will report a gain in 2010.
• E)The subsidiary will report a gain in 2007.

---

Definitions:

High Contrast

A significant difference in luminance or color that makes an object or graphic stand out from the background, enhancing visibility.

PowerPoint Presentations

A slideshow created using Microsoft PowerPoint software, typically used for educational or business presentations to display information visually.

Dark Background

A design choice where the background of a visual display or document is dark, often used to reduce glare and enhance readability of light text.

Modes of Openers

Various strategies or sentences used at the beginning of a speech or written piece to grab the audience's attention or introduce the topic effectively.