1. The accountant's objective regarding intra-entity transfers of depreciable assets is a. To defer unrealized gains to establish fair value balances and recognize appropriate income. b. To recognize gains to establish both historical cost balances and recognize appropriate income. C. To defer unrealized gain to establish both historical cost balances and recognize appropriate income 2) Which of the following is true regarding intra-entry transfers of depreciable assets? a Elimination entries are required in the year of transfer and subsequent years. b. Elimination entries are not required for downstream sales in the year of transfer and subsequent years. C. Elimination entries are required only in the year of transfer. 3) Intra-entry inventory creates which of the following actions: a Elimination entries only in the year of the transaction b. No actions required C. Removal of the sale/purchase transaction as part of the consolidation process