REFERENCE: Ref.05_09 Stiller Company,an 80% Owned Subsidiary of Leo Company,purchased Land from Land

question 89

Multiple Choice

REFERENCE: Ref.05_09
Stiller Company,an 80% owned subsidiary of Leo Company,purchased land from Leo on March 1,2009,for $75,000.The land originally cost Leo $60,000.Stiller reported net income of $125,000 and $140,000 for 2009 and 2010,respectively.Leo uses the equity method to account for its investment.
-Compute the gain or loss on the intercompany sale of land.

• A)$15,000 loss.
• B)$15,000 gain.
• C)$50,000 loss.
• D)$50,000 gain.
• E)$65,000 gain.

Recognize how attitudes and mindsets influence responses to failure and challenges.

Identify the impact of praise on mindset orientation (growth or fixed).

Appreciate the concept of metacognition and its importance in self-awareness and problem-solving.

Understand the role of mindset in entrepreneurship and entrepreneurial mindset characteristics.

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Definitions:

Homosexuals

Individuals who are sexually attracted to members of the same sex; the term can refer to both men and women, although gay and lesbian are the more specific terms commonly used.

Internalizing Problems

Disturbances in emotion or mood such as depression, worry, guilt, and anxiety; more common in girls than in boys.

Externalizing Problems

Social and behavioral problems such as aggression and delinquency; more common in boys than in girls.

Adolescence

A developmental phase marked by psychological and physical changes, starting at puberty and ending when one becomes a legal adult.