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From a consolidated point of view, the intercompany gain or loss on a parent’s sale of a non-depreciable asset to subsidiary is realized when:  a. The parent company sells the asset to the subsidiary  b. The subsidiary start to use the asset c.  The subsidiary resells the asset to the parent d.  The subsidiary resells the asset to the outsider

From a consolidated point of view, the intercompany gain or loss on a parent’s sale of a non-depreciable asset to subsidiary is realized when:  a. The parent company sells the asset to the subsidiary  b. The subsidiary start to use the asset c.  The subsidiary resells the asset to the parent d.  The subsidiary resells the asset to the outsider

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From a consolidated point of view, the intercompany gain or loss on a parent’s sale of a non-depreciable asset to subsidiary is realized when:

 a. The parent company sells the asset to the subsidiary
 b. The subsidiary start to use the asset
c.  The subsidiary resells the asset to the parent
d.  The subsidiary resells the asset to the outsider
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