Xing Corporation Owns 80 Percent of the Voting Common Shares

question 20

Multiple Choice

Xing Corporation owns 80 percent of the voting common shares of Adams Corporation.Noncontrolling interest was assigned $24,000 of income in the 20X9 consolidated income statement.What amount of net income did Adams Corporation report for the year?

• A) $150,000
• B) $96,000
• C) $120,000
• D) $30,000

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Definitions:

Promote Competition

Actions or policies intended to encourage a competitive market, leading to benefits such as lower prices and innovation.

Artificial Differences

Distinctions made based on non-natural or synthetic criteria, often leading to unnecessary or unfounded separation between groups or categories.

Advertising

The action or profession of producing advertisements for commercial products or services to influence consumer behaviors.

Network Externalities

The value of a product to a consumer increases with the number of that product being sold or used in the market.