When an Entity Sells a Non-Depreciable Non-Current Asset During the Current

question 15

Multiple Choice

When an entity sells a non-depreciable non-current asset during the current period at a profit to another entity within the same group the following adjustment is necessary on consolidation at the end of the period:

• A) DR Asset CR Cash
• B) DR Gain on sale CR Asset
• C) DR Cash CR Asset
• D) DR Asset CR Gain on sale.

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Definitions:

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