After eliminating/adjusting entries are prepared, what was the intercompany sale impact on the consolidated financial statements for the year ended December 31, 2014?

A) Consolidated Net Income Consolidated Net Assets
No effect No effect
B) Consolidated Net Income Consolidated Net Asset
No effect Increased
C) Consolidated Net Income Consolidated Net Asset
Decreased Decreased
D) Consolidated Net Income Consolidated Net Asset
Decreased No effect

A

Business

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A major responsibility of staff specialists is to ensure that lessons learned in more advanced markets are applied to the management of their products in smaller, less developed markets

Indicate whether the statement is true or false

Business

Which of the following is a provision of the Uruguay Round Agreement?

A. A wide range of services were to be excluded from GATT fair trade and market access rules. B. Tariffs on industrial goods were to be raised by more than one-third, and tariffs were to be scrapped on more than 50 percent on a wide range of services. C. The International Monetary Fund (IMF) was to be created to implement the GATT agreement. D. Barriers on trade in textiles were to be significantly reduced over 10 years. E. Average tariff rates imposed by developed nations on manufactured goods were to be raised by 20 percent of the value, the highest level in modern history.

Business