Which of the Following Statements Is True Regarding an Intra-Entity

question 26

Multiple Choice

Which of the following statements is true regarding an intra-entity transfer of land?

• A) A loss is always recognized but a gain is deferred in a consolidated income statement.
• B) A loss and a gain are deferred until the land is sold to an outside party.
• C) A loss and a gain are always recognized in a consolidated income statement.
• D) A gain is always recognized but a loss is deferred in a consolidated income statement.
• E) Recognition of a gain or loss is deferred by adjusting stockholders' equity through comprehensive income.

---

Definitions:

Centromere

The region of a chromosome where the two sister chromatids attach, crucial for the distribution of chromosomes during cell division.

Gamete

A mature haploid male or female germ cell that is able to unite with another of the opposite sex in sexual reproduction to form a zygote.

Diploid

An organism or cell having two sets of chromosomes or twice the haploid number, typifying most body cells except for gametes.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA, responsible for carrying genetic information.