Alpha Corporation Owns 100 Percent of Beta Company, and Beta

question 3

Multiple Choice

Alpha Corporation owns 100 percent of Beta Company, and Beta owns 80 percent of Gamma, Inc., all of which are domestic corporations. Information for the three companies for the year ending December 31, 2011 follows: What is Gamma's accrual-based income for 2011?

• A) $76,000.
• B) $80,000.
• C) $96,000.
• D) $100,000.
• E) $104,000.

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An Islamic pilgrimage to Mecca that is required of all Muslims who are physically and financially able to undertake it at least once in their lifetime.

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