A Parent Entity Group Sold a Depreciable Non-Current Asset to a Subsidiary

question 20

Multiple Choice

A parent entity group sold a depreciable non-current asset to a subsidiary entity for $2800.The asset originally cost $3000 and at the date of sale accumulated depreciation was $500.The amount of the unrealised gain on sale to be eliminated is:

• A)$2800
• B)$500
• C)$300
• D)$200.

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Definitions:

AARP Survey

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Personal Needs

Essential emotional, psychological, and physical requirements that individuals need to achieve well-being and contentment.

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Refers to a person who prefers solitary activities and feels drained by social interactions, typically focusing on their own thoughts and feelings.