Which of the Following Statements Is True Concerning an Intra-Entity

question 109

Multiple Choice

Which of the following statements is true concerning an intra-entity transfer of a depreciable asset?

• A) Net income attributable to the noncontrolling interest is never affected by a gain on the transfer.
• B) Net income attributable to the noncontrolling interest is always affected by a gain on the transfer.
• C) Net income attributable to the noncontrolling interest is affected by a downstream gain only.
• D) Net income attributable to the noncontrolling interest is affected only when the transfer is upstream.
• E) Net income attributable to the noncontrolling interest is increased by an upstream gain in the year of transfer.

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