Which of the Following Statements Is Incorrect

question 27

Multiple Choice

Which of the following statements is incorrect:

• A) the effects of intragroup transactions need to be eliminated in full.
• B) the adjustments for the elimination of the effects of intragroup transactions may need to be repeated in next periods.
• C) the effects of intragroup transactions that need to be eliminated are those related to the current profit.
• D) the effects of intragroup transactions are recognised in the individual statements of financial position and/or the individual statements of comprehensive income.

---

Definitions:

Income

Money received by an individual or business in exchange for providing a good or service or through investing capital.

Multiple Regression

A mathematical method for modeling the connection between a single dependent variable and multiple independent variables.

F Statistic

A measure used in statistical analysis to assess the significance of a group of variables in a regression model.

P-value

The likelihood of witnessing outcomes in a test that are as significant or more so, given the premise that the null hypothesis is true.