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MMLU-Pro / 5188 / King, Inc. owns 70% of Simmon Co’s outstanding common stock. King’s liabilities…

Problem

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question

King, Inc. owns 70% of Simmon Co’s outstanding common stock. King’s liabilities total $450,000, and Simmon’s liabilities total $200,000. Included in Simmon’s financial statements is a $100,000 note payable to King. What amount of total liabilities should be reported in the consolidated financial statements?
Plain-text mathematical notation (without MathML)
King, Inc. owns 70% of Simmon Co’s outstanding common stock. King’s liabilities total $450,000, and Simmon’s liabilities total $200,000. Included in Simmon’s financial statements is a $100,000 note payable to King. What amount of total liabilities should be reported in the consolidated financial statements?
Original LaTeX notation
King, Inc. owns 70% of Simmon Co’s outstanding common stock. King’s liabilities total $450,000, and Simmon’s liabilities total $200,000. Included in Simmon’s financial statements is a $100,000 note payable to King. What amount of total liabilities should be reported in the consolidated financial statements?

category

other

options

  1. $800,000
  2. $750,000
  3. $590,000
  4. $700,000
  5. $520,000
  6. $450,000
  7. $550,000
  8. $650,000
  9. $500,000
  10. $600,000

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5188
task_id
827f3422-cd87-5238-a9d2-1d7d46ea48bf
task_key
default--test--5188
task_revision_id
1
config / split
default / test

Official source

initial import