Multiple Choice
A 40% venturer in a jointly controlled operation sells an asset to the joint venture.The asset has a fair value of $5 000 000.The carrying amount in the books of the venture was $4 000 000.The profit to be recognised by the venturer is:
A) $5 000 000.
B) $4 000 000.
C) $1 000 000.
D) $600 000.
Correct Answer:
Verified
Correct Answer:
Verified
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