Answer: D) A subsidiary is an invisible part of a business combination and should be included in its entirety regardless of the degree of ownership.
What is a basic premise of the acquisition method regarding accounting for a non controlling interest?
A) Consolidated financial statements should not report a non controlling interest balance because these outside owners do not hold stock in the parent company.
B) Consolidated financial statements should be primarily for the benefit of the parent company's stockholders.
C) Consolidated financial statements should be produced only if both the parent and the subsidiary are in the same basic industry.
D) A subsidiary is an invisible part of a business combination and should be included in its entirety regardless of the degree of ownership.
D) A subsidiary is an invisible part of a business combination and should be included in its entirety regardless of the degree of ownership.
Strategic planning is the process of defining the company's strategy and making decisions about how to use resources to accomplish that strategy.
Answer:
- <em>The inventory turnover for the year is </em><u><em>10 </em></u><u>.</u>
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Explanation:
The<em> inventory turn over</em> for a year is the number of times the inventory has been sold over the year:
The average inventory is:
Thus, from the<em> financial data</em> in the table for <em>The Tampa Manufacturing Company</em>, at<em> Decermber 31</em>, <em>the inventory turnover for the year</em> is:
