Which of the following statements is true regarding an intra-entity transfer of land? A loss is...

Which of the following statements is true regarding an intra-entity transfer of land?

A loss is always recognized but a gain is deferred in a consolidated income statement.

Recognition of a gain or loss is deferred by adjusting stockholders' equity through comprehensive income.

loss and a gain are always recognized in a consolidated income statement.

A loss and a gain are deferred until the land is sold to an outside party.

Expert Solution

option : D

As per accounting standards and principles the gain or loss created by intra entity land transfers is unrealised until the land is not sold to an outside party at the end of the transfer year.

therefore the profit or loss arising on sale of land is deferred until it is sold to an outside party.

ekkarill92 answered 2 years ago

"Consolidated Financial Statements – Intra-Entity Asset Transactions" The consolidation process required for the intra-entity transfer of...

"Consolidated Financial Statements – Intra-Entity Asset Transactions" The consolidation process required for the intra-entity transfer of depreciable assets is different from the requirements for inventory and land. Analyze the current consolidation process for intra-entity transfer of depreciable assets and suggest at least one (1) improvement to the process. Provide an example to support your recommendation. Assume that company P (parent) uses the equity method to account for its investment in company S (subsidiary). Company P purchases inventory items from...

Which of the following statements regarding the heat transfer in a PWR are true? The single...

Which of the following statements regarding the heat transfer in a PWR are true? The single phase coolant enters the core with fixed temperature and high pressure (15.5 MPa) and it is heated up by fission heat by about 33 K As the heated-up coolant leaves the core, it is passed into the turbine. The water in the secondary side of the steam generator is heated up by the coolant in the primary loop until boiling

Which of the following statements is not true regarding separate entities? a. Generally a separate entity...

Which of the following statements is not true regarding separate entities? a. Generally a separate entity is legally distinguished from its owners. b. Income earned by separate entities is taxed at the individual owner level. c. A separate entity must have its own employer identification number. d. A separate entity must file a tax return.

Which of the following statements are true regarding sponges?

QUESTION 3 Which of the following statements are true regarding sponges? Sponges live in marine or freshwater environments. All sponges are photosynthetic. Adult sponges are non-motile Sponges do not have true tissues. QUESTION 4 Which of the following statements are true regarding arthropods. Similar to the earthworm, an arthropod has a body composed of repeated segments Arthropods have an exoskeleton Arthropods have a coelom Arachnids, crustaceans and insects are all arthropodsQUESTION 5 What are the four basic types of tissues found in animals? tracheid muscle tissue connective tissue epithelial tissue mesophyll nerve tissue

Which of the following statements regarding critical paths is true?

Which of the following statements regarding critical paths is true? A. On a specific project, there can be multiple critical paths, all with exactly the same duration. B. The duration of the critical path is the average duration of all paths in the project network. C. Every network has only one critical path. D. Some activities on the critical path may have slack. E. The shortest of all paths through the network is the critical path.

Which of the following statements is true of the transfer of interests in a goods-in-bailment contract?...

Which of the following statements is true of the transfer of interests in a goods-in-bailment contract? Multiple Choice Title of goods passes from the seller to the buyer when a document of title is endorsed or signed over to the buyer. Only the buyer can buy insurance on the goods because the seller cannot transfer physical possession of the goods. If the document of title is negotiable, the risk passes to the buyer on notification and acknowledgment by the custodian...

Which of the following statements are true regarding chemical reactions? T = true and F =...

Which of the following statements are true regarding chemical reactions? T = true and F = false. A) the more negative the ΔG, the further towards completion the reaction will proceed before equilibrium is reached. B) only a system not at equilibrium can perform work. C) for most biochemical reactions in a metabolic pathway, equilibrium is rarely reached. D) in a closed system, a chemical reaction will proceed spontaneously until the reactants and products are in equal concentration.

Which of the following statements is TRUE regarding CAPM? A) This is a model for relating...

Which of the following statements is TRUE regarding CAPM? A) This is a model for relating unsystematic risk to the expected return on a risky asset B) Ceteris paribus, stocks with higher betas should have lower prices. C) The beta for the market is always zero. D) Stocks with higher market risk should have lower expected or required rates of return. Albert purchased Southern Industries stock for $40 per share and sold it one and one half years later for...

3. Which of the following statements regarding liquidity and profitability is not true? a. If a...

3. Which of the following statements regarding liquidity and profitability is not true? a. If a business is unable to pay its debts as they come due, it is operating unprofitably b. In order to survive in the long run, a business must both remain liquid and operate profitably c. A business may operate profitably, yet be unable to meet its obligations d. A business may be liquid, yet operate unprofitably for several years

Which of the following statements regarding t and z distributions is/are true? Correctany false statements to...

Which of the following statements regarding t and z distributions is/are true? Correctany false statements to make them true. A) The area under a t-distribution to the left of -1.97 is greater than the area to the right of 2.17 for a sample of any size. B) The area under the curve (AUC) to the right of t=2.00 when n=15 is smaller than the AUC to the right of t=2.00 when n=50. C) The t-curve has thinner tails and a...

Question