If a Non- Current Asset Is Sold Between Two Entities

question 2

Multiple Choice

If a non- current asset is sold between two entities in a group:

• A)a consolidation adjustment is required to eliminate the effect of the intragroup transaction
• B)any gain or loss on sale must be eliminated from the consolidated accounts
• C)there has been either a gain or loss on the intragroup sale of the asset
• D)both A and B

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Definitions:

Military Operations

Actions conducted by armed forces to achieve strategic or tactical objectives, often involving combat or defense activities.

Congress Funding

The allocations of financial resources by the legislative branch of the government for federal programs, departments, and initiatives.

Terrorist Tactics

Strategies or methods used by individuals or groups to achieve political, religious, or ideological goals through fear, coercion, or violence.

Osama Bin Laden

The founder of al-Qaeda, the terrorist organization responsible for the September 11 attacks on the United States and numerous other acts of terrorism.