In 1969,Malcolm Bought a Pontiac Firebird for $2,500

question 37

Multiple Choice

In 1969,Malcolm bought a Pontiac Firebird for $2,500.If the price index was 36.7 in 1969 and the price index was 235 in 2013,then what is the price of the Firebird in 2013 dollars?

• A)$4,609.57
• B)$4,957.51
• C)$13,508.17
• D)$16,008.17

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Definitions:

Consolidated Financial Statements

Financial statements that combine the financial information of a parent company with its subsidiaries into one comprehensive document.

Recognizes Gain or Loss

Refers to the process of recording in the financial statements the income or expense resulting from a transaction or event.

Intercompany Transactions

Transactions that occur between two different entities within the same corporate group.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for accomplishing a specific task or project.