An Intra-Entity Transfer of a Depreciable Asset Took Place Whereby

question 99

Multiple Choice

An intra-entity transfer of a depreciable asset took place whereby the transfer price exceeded the book value of the asset. Which statement is true with respect to the year following the year in which the transfer occurred?

• A) A worksheet entry is made with a debit to gain for a downstream transfer.
• B) A worksheet entry is made with a debit to gain for an upstream transfer.
• C) A worksheet entry is made with a debit to investment in subsidiary for a downstream transfer when the parent uses the equity method.
• D) A worksheet entry is made with a debit to retained earnings for a downstream transfer, regardless of the method used account for the investment.
• E) No worksheet entry is necessary.

---

Definitions:

Mixed-Sex

Pertaining to or involving individuals of both sexes in the same setting or activity.

Spring Break

A short vacation period in early spring typically observed by schools and universities in various countries.

Low-Commitment Sex

Low-commitment sex refers to sexual activities engaged in without the intention or expectation of a long-term romantic relationship.

Same-Sex Packs

Social groups or gatherings composed of individuals of the same sex, often found in various species for reasons including safety, foraging, or reproductive strategies.