Multiple Choice
When an entity sells during the current period a non-depreciable non-current asset at a profit to another entity within the same group the following adjustment is necessary on consolidation at the end of the period:
A) Dr Asset Cr Cash
B) Dr Cash Cr Asset
C) Dr Gain on sale Cr Asset
D) Dr Asset Cr Gain on sale.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The adjustments included in the consolidation worksheet
Q4: If a dividend is paid out of
Q4: A parent entity made an advance of
Q5: Which of the following statements is incorrect:<br>A)
Q6: Which of the following statements is incorrect:<br>A)
Q8: A parent entity group sold a depreciable
Q9: During the current period, a subsidiary entity
Q10: Jameson purchased goods from its subsidiary for
Q11: Which of the following statements is incorrect:<br>A)
Q24: When eliminating an intragroup service which of