The Following Information Pertains to Questions

question 7

Multiple Choice

The following information pertains to questions
Find Corp.is a joint venture in which Seek Inc.has a 20% interest.Seek uses the equity method to account for its investment but has yet to make any journal entries for 2010.The financial statements of both companies are shown below on December 31,2010. During 2010,Seek sold merchandise totaling $120,000 to Find and recorded a gross profit of 50% on these sales.At the end of 2010,Find's inventory contained $30,000 worth of merchandise purchased from Seek.Find also owed $50,000 to find at the end of 2010.
Seek shall use the proportionate consolidation method (current Canadian GAAP) to report its investment in Find Corp.for 2010.Both companies are subject to 40% tax rate.
-What is the amount of miscellaneous liabilities that would appear on Seek's December 31,2010 Consolidated Balance Sheet?

• A)$166,000
• B)$176,000
• C)$240,000
• D)$230,000

Understand the factors contributing to the technological complexity of a project.

Describe the role and tasks of a project sponsor.

Analyze the initiation phase of a project and its components.

Understand the connection between project execution approaches and project types.

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Definitions:

Non-disclosure Provision

A clause in a contract that prohibits the sharing of confidential information with unauthorized persons.

Trade Secret

Proprietary data that gives a company a market advantage and is actively protected to keep it secret.

Anton Piller Order

A court order that allows the plaintiff to search the premises of the defendant and seize evidence without prior warning, usually in cases involving intellectual property infringement.

Copyright

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