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Subsidiary has property recorded at $60 000 using the cost method.Parent assesses the fair value of the property at $130 000.Group policy is to use the cost method.The correct consolidation data adjustment for the property is:
Dr.Property $70 000
Cr.Asset revaluation reserve $70 000
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Variance
A measure of the dispersion of a set of data points around their mean value, demonstrating how spread out the data points are.
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An indicator of the spread or variability among a set of numbers, showing the degree to which these numbers vary from their average.
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Statistical estimates or predictions that are accurate on average over a number of samples.
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