Multiple Choice
When a U.S. subsidiary in another country remits profits back to its parent in the U.S., the receipt of profits is recorded in the ________.
A) income receipts account and given a plus sign
B) income receipts account and given a minus sign
C) income payments account and given a plus sign
D) income payments account and given a minus sign
Correct Answer:
Verified
Correct Answer:
Verified
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