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ABC Limited, a subsidiary entity, sold a non-current asset at a profit to its parent entity during the current period. The adjustment necessary on consolidation
ABC Limited, a subsidiary entity, sold a non-current asset at a profit to its parent entity during the current period. The adjustment necessary on consolidation to reflect the tax effect of this transaction will result in an:
Select one:
a.
decrease in retained earnings.
b.
increase in deferred tax assets.
c.
decrease in deferred tax liabilities.
d.
increase in retained earnings.
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