Parent Corporation Owns 90 Percent of Subsidiary 1 Company's Stock

question 30

Multiple Choice

Parent Corporation owns 90 percent of Subsidiary 1 Company's stock and 75 percent of Subsidiary 2 Company's stock.During 20X8,Parent sold inventory purchased in 20X7 for $48,000 to Subsidiary 1 for $60,000.Subsidiary 1 then sold the inventory at its cost of $60,000 to Subsidiary 2.Prior to December 31,20X8,Subsidiary 2 sold $45,000 of inventory to a nonaffiliate for $67,000 and held $15,000 in inventory at December 31,20X8.
-Based on the information given above,what amount of cost of goods sold must be eliminated from the consolidated income statement for 20X8?

• A)$117,000
• B)$120,000
• C)$150,000
• D)$128,000

Appreciate the significance of equitable treatment of employees in promoting diversity and inclusion.

Identify the role of diversity training and language education in enhancing organizational diversity.

Understand the characteristics of a multicultural organization.

Comprehend the concept of organizational learning.

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Definitions:

Income

Remuneration obtained regularly through employment or investment activities.

Demand

Demand refers to the quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.

Indifference Curves

Graphs used in economics to show combinations of two goods that provide equal satisfaction and utility to a consumer.

Budget Line

A graphical representation of all possible combinations of two goods which can be purchased with a given budget at fixed prices.