A Subsidiary Sold Inventory to a Parent Entity for €10

question 13

Multiple Choice

A subsidiary sold inventory to a parent entity for €10 000. The inventory originally cost the subsidiary €6000. At the end of the reporting period the parent had sold 50% of the inventory to an external party. The company tax rate is 30%. The deferred tax item that is recognised on consolidation is:

• A) CR Deferred tax liability €1 200
• B) CR Deferred tax liability €600
• C) DR Deferred tax asset €1 200
• D) DR Deferred tax asset €600.

Differentiate between goals and objectives, and their measurability and time orientation.

Grasp the concept of crisis management and its essential elements.

Recognize the process and importance of staffing in an organization.

Understand the hierarchies and roles within organizational management, focusing on first-line, middle, and top managers.

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Definitions:

Canadian Judicial Council

An official body overseeing the conduct of judges in Canada, ensuring they adhere to standards of behavior.

Original Jurisdiction

The authority of a court to hear a case for the first time, as opposed to appellate jurisdiction.

Extended Warranty

is an additional warranty that provides continued coverage for repairs and maintenance beyond the original warranty.

Appellant

A party who appeals a lower court's decision, seeking a higher court's review.