question archive Consolidated net income may include the parent's separate operating income plus the parent's share of the subsidiary's reported net income: plus the unrealized profit on upstream intercompany sales of inventory made during the current year
Consolidated net income may include the parent's separate operating income plus the parent's share of the subsidiary's reported net income: plus the unrealized profit on upstream intercompany sales of inventory made during the current year
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Consolidated net income may include the parent's separate operating income plus the parent's share of the subsidiary's reported net income:
- plus the unrealized profit on upstream intercompany sales of inventory made during the current year.
- plus the profit realized this year from upstream intercompany sales of inventory made last year.
- plus unrealized profit on downstream intercompany sales of inventory made during the current year.
- minus the parent's share of profit realized this year from upstream intercompany sales of inventory made last year.
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Answer:
B .
explanation
The consolidated net income of the company includes the parent's operating income plus the parent's share in the net income of the subsidiary plus the profit that has been realized out of the upstream intercompany sales which were made last year by the company.
