REFERENCE: Ref.02_01 Bullen Inc.assumed 100% Control Over Vicker Inc.on January 1,20X1.The Book

question 55

Multiple Choice

REFERENCE: Ref.02_01
Bullen Inc.assumed 100% control over Vicker Inc.on January 1,20X1.The book value and fair value of Vicker's accounts on that date (prior to creating the combination) follow,along with the book value of Bullen's accounts:

-Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $42 fair value for all of the outstanding stock of Vicker.What is the consolidated Land as a result of this transaction (which is not a pooling of interests) ?

• A)$460,000.
• B)$510,000.
• C)$500,000.
• D)$520,000.
• E)$490,000.

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Definitions:

Contributorily Negligent

Refers to a situation where the plaintiff is found to have played a part in their own harm, potentially reducing the compensation they receive.

Duty of Care

A legal obligation to adhere to a standard of reasonable care while performing acts that could foreseeably cause harm to others.

Res Ipsa Loquitor

A legal doctrine allowing the presumption of negligence by the defendant when the accident could not have happened without negligence.

Defective Product

An item that fails to function as intended due to a flaw in design, manufacture, or marketing, presenting potential harm to users.