1.Do entries [TI], [G], and *[G] increase or decrease consolidated COGS?

A.[TI] increases, [G] decreases, and *[G] decreases

B.[TI] decreases, [G] increases, and *[G] decreases

C.[TI] increases, [G] increases, and *[G] decreases

D.[TI] decreases, [G] increases, and *[G] increases

2.Does percentage of ownership held by parent company affect the amounts in [TI], [G], and *[G]?

A.Yes in [TI], and no in [G] and *[G].

B.No in [TI], and yes in [G] and *[G].

C.Yes in all three

D.No in all three

3.Are there any differences between downstream and upstream sales in entries [TI], [G], and *[G]?

A.Yes in [TI], and no in [G] and *[G].

B.No in [TI] and [G],Yes in *[G].

C.Yes in all three

D.No in all three

4.What is the amount recognized in consolidation entry [TI]

A.original cost of transferred goods

B.normal retail price to non-affiliated customers

C.transfer price

D.unrealized gain

5.To avoid missing any consolidation entries when there are multiple intra-entity transfers over multiple periods, I suggested in the lecture which of the following?

A.creating a map of consolidation entries first

B.running the initial analysis first

C.focusing on the year of transfer

D.focusing on the years following the year of transfer