During the Current Period, a Subsidiary Entity Sold Inventories to a Parent

question 9

Multiple Choice

During the current period, a subsidiary entity sold inventories to a parent entity for $30 000. The inventories had previously cost the subsidiary entity $24 000. By reporting date the parent entity had sold 75% of inventories to a party outside the group. The company tax rate is 30%. The adjustment entry in the consolidation worksheet at reporting date is:

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Definitions:

Angry Mob

A large, disorderly group of people expressing furiously and often violently.

Mirror Neurons

Neurons that fire both when an individual acts and when the individual observes the same action performed by another, leading to imitation and social learning.

Dopaminergic Neurons

Dopaminergic neurons are nerve cells that produce and release dopamine, a neurotransmitter involved in many functions, including motivation, pleasure, and movement regulation.

Bimodal Neurons

Neurons that are responsive to stimuli from two different sensory modalities, such as auditory and visual.