What Amount Will Appear on the "Gain on Sale of Land

question 30

Multiple Choice

What amount will appear on the "Gain on sale of land" line in Parent Company's consolidated income statement for the year ended December 31, 2017?

• A) $0.
• B) $93,000.
• C) $124,000.
• D)$155,000.

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Definitions:

Trade-off

A case where the gain of one property or aspect comes at the cost of losing another.

Budget Constraints

Refers to the limitations on the consumption choices of individuals or entities due to their available resources, such as income or wealth.

Indifference Curves

Graphical representations showing combinations of two goods that give the consumer equal satisfaction and utility.

Optimum

The most favorable condition or level of something, where benefits are maximized and negative effects are minimized.