Where There Are Transactions Between the Investor and Associate That

question 7

Multiple Choice

Where there are transactions between the investor and associate that result in an unrealised profit,the investor's share of the associate's profit is:

• A)not affected at all regardless of whether the transaction is an upstream or downstream one;
• B)affected only if the transaction is an upstream one;
• C)affected only if the transaction is a downstream one;
• D)affected regardless of whether the transaction is an upstream or downstream one.

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Definitions:

Time Period

A specific interval of time marked by a start and end point, often used for purposes of study, assessment, or to denote durations.

Offeree

In contract law, the person to whom an offer is made.

Illusory Promise

A promise that does not obligate the promisor to anything.

Legally Enforceable Promise

A commitment or agreement that is recognized by law and can be upheld in a court of justice.