In the Year That the Group Terminates Its Consolidation Election

question 39

Short Answer

In the year that the group terminates its consolidation election, a consolidated group's deferred gain from an intercompany asset sale between affiliates is recognized in full under the rule.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another, which, while inducing that party to enter into a contract, leads to its breach.

Misleading Statement

False or deceptive information that can lead someone to an incorrect understanding or belief.

Expression of Opinion

The act of stating or sharing one's thoughts, beliefs, or judgements without the intention of stating a fact.

Misrepresentation

False or misleading statements made about a significant fact, which induce another party to enter into a contract or agreement.