The Following Data Pertains to Questions

question 52

Multiple Choice

The following data pertains to questions
Parent and Sub Inc had the following balance sheets on July 31,2007: The Net Incomes for Parent and Sub Inc for the year ended July 31,2007 were $120,000 and $60,000 respectively.
-Assuming Parent purchased 80% of Sub Inc.for $180,000;the Assets section of Parent's Consolidated Balance Sheet on the date of acquisition would total what amount under current GAAP?

• A)$637,600
• B)$639,200
• C)$637,200
• D)$571,000

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Definitions:

Use Restraints

The practice of applying physical or chemical means to limit a patient's movements for their own safety or the safety of others.

Patient's Safety

The protection of patients from harm or injury during the provision of health care.

Punish

The imposition of a penalty as retribution for an offense, or the act of disciplining to correct disobedience.

Controlled Substance

A drug or chemical whose manufacture, possession, and use are regulated by law, often due to the potential for abuse or addiction.