When an Entity Sells a Non-Current Asset at a Profit

question 3

Multiple Choice

When an entity sells a non-current asset at a profit to another entity within the same group the following adjustment is necessary on consolidation:

• A) DR Asset, CR Cash
• B) CR Asset, DR Cash
• C) DR Gain on sale, CR Asset
• D) CR Gain on sale, DR Asset.

---

Definitions:

Repetitive Work

Tasks that involve the same sequences of actions being performed repeatedly over an extended period.

Meaningful Job

A position that provides the employee with a sense of purpose, impact, and fulfillment.

Feedback

Information given to individuals regarding their performance or behavior, aiming to reinforce strengths or improve weaknesses.

New Tasks

Fresh assignments or responsibilities that are given to employees or teams within an organization.