The Following Data Pertains to Questions

question 10

Multiple Choice

The following data pertains to questions
Parent and Sub Inc had the following balance sheets on December 31,2008: On January 1,2009 Parent purchased all of Sub Inc's Common Shares for $40,000 in cash.On that date,Sub's Current Assets and Fixed Assets were worth $26,000 and $54,000,respectively.Assuming that Consolidated Financial Statements were prepared on that date,answer the following:
-The Current Assets of the combined entity should be valued at:

• A)$7,000
• B)$170,000
• C)$86,000
• D)$114,000

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Definitions:

Minor Calyces

Small cup-shaped structures in the kidney that funnel urine into the major calyces.

Major Calyces

The large branches of the renal pelvis that collect urine from the minor calyx before it flows into the ureters.

Urethra

A tube that conducts urine from the bladder to the outside of the body, also serving as a passage for semen in males.

Renal Papilla

The apex of the renal pyramid in the kidney which projects into the lumen of the renal pelvis.