Which of the Following Statements Is Incorrect

question 26

Multiple Choice

Which of the following statements is incorrect?

• A) Where the transferred assets are depreciable, adjustments are made to depreciation accounts (for the current period depreciation) and/or to the retained earnings account (for the previous periods' depreciation).
• B) Adjustments for the gain/loss on intragroup sale of property, plant and equipment are made in all periods after the sale.
• C) As depreciation reflects the use of the asset by the group, the depreciation adjustments are realising a part of the gain/loss on the intragroup sale of property, plant and equipment.
• D) As the intragroup sale of property, plant and equipment impacts on the profit and the carrying amount of assets, adjustments for the tax effects are also required.

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Definitions:

Infection Control

Refers to policies and procedures used to minimize the risk of spreading infections, especially in healthcare environments.

Pruritic Vesicular Eruptions

Skin outbreaks characterized by small, fluid-filled blisters that cause severe itching.

Malaise

A feeling of discomfort or uneasiness.

Chicken Pox

A contagious viral disease characterized by an itchy rash and red spots or blisters all over the body.