In May 20X7,a Parent Entity Sold Inventory to a Subsidiary

question 16

Multiple Choice

In May 20X7,a parent entity sold inventory to a subsidiary entity for $30 000.The inventory had previously cost the parent entity $24 000.The entire inventory is still held by the subsidiary at reporting date,30 June 20X7.Ignoring tax effects,the adjustment entry in the consolidation worksheet at reporting date is:

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Definitions:

Attributing Blame

The process of assigning responsibility for a fault or wrong to a person or group.

Competitive Struggles

Situations marked by rivalry or contention where individuals or groups compete against one another to achieve certain goals or outcomes.

Family Problem

Issues or conflicts arising within a family unit, potentially impacting the emotional, physical, and psychological well-being of its members.

On-The-Spot Interventions

Immediate actions taken in response to a situation or problem without prior planning.