When preparing consolidated financial statements, what is the main reason we eliminate all intercompany transactions between and among a parent company and its subsidiaries?
a. intercompany transactions almost always result in gains, and the conservatism principle says that gains should be deferred, while losses should be recognized immediately.
b. commonly controlled affiliates represent a single economic entity, and an entity cannot engage economically in transactions with itself.
c. the sarbanes-oxley act of 2002 states that affiliated companies should not engage in transactions with each other.
d. management theory suggests that it eliminate problems with self selection.

In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?

Most states have licensing registration requirements for child care centers and family daycare homes. these usually include minimum standard for operation. which of the following would you most likely find required in a statement of state licensing standards for child care centers?

11.     before adding cream to a simmering soup, you need to a. simmer the cream. b. chill the cream. c. strain the cream through cheesecloth. d. allow the cream reach room temperature. student d   incorrect which answer is right?