Which of the Following Is NOT a Requirement for Intragroup

Multiple Choice

Which of the following is NOT a requirement for intragroup transactions under IFRS?

A) Whenever related entities transact with each other, the separate legal entities disclose the effects of these transactions in the revenues and expenses reported as well as assets and liabilities as required.
B) Deferred tax accounts must be created where there are temporary differences between the carrying amount of an asset or a liability and its tax base.
C) The process of consolidation involves adding together the financial statements of a parent and its subsidiaries to reflect an overall view that includes the results of the group transactions with external entities and also within the group.
D) Adjustments must be made to eliminate intragroup balances and the effects of transactions whereby profits or losses are made by different members of the group through trading with each other.