Where an Intragroup Sale of an Asset Has Been Made

question 13

True/False

Where an intragroup sale of an asset has been made and the asset was classified as inventory in the selling entity's books,but subsequently classified as plant in the buying entity's books,all depreciation recognised in the buying entity's books must be eliminated on consolidation.

---

Definitions:

Social Bonding

The process of developing attachments and connections between individuals, which can foster a sense of belonging and mutual support within groups or communities.

Peer Evaluations

Assessments made by individuals of the same status, such as coworkers or classmates, regarding each other's performance, skills, or behaviors.

Self-esteem

An individual's overall subjective emotional evaluation of their own worth.

Self-control

The ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses.