Subsidiary Has Internally Generated an Intangible Asset That It Does $\quad$

question 27

True/False

Subsidiary has internally generated an intangible asset that it does not recognise in its own account balances and financial statements.Parent assesses the value of the intangible at $500 000.The correct consolidation data adjustment for the intangible is:
Dr.Intangible $\quad$$\quad$$\quad$$\quad$ $500 000
Cr.Asset revaluation reserve $\quad$$\quad$$\quad$ $500 000

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