The Following Data Pertains to Questions

question 56

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 Goodwill arising from this Business Combination would be:

• A)$7,000
• B)($17,000)
• C)$17,000
• D)$120,000

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Definitions:

Ostracism

The act of excluding or ignoring someone from a group or society, often used as a form of social punishment.

Social Environment

The social environment encompasses the immediate physical and social setting in which people live or in which something happens or develops, including the culture that the individual was educated or lives in, and the people and institutions with whom they interact.

Youthfulness

The quality or state of being young, especially in appearance or spirit, often associated with energy, vibrancy, and vitality.

Potential Mate

An individual considered for romantic involvement or partnership based on certain desirable attributes or perceived compatibility.