Question 2 2.5 pts When the subsidiary sells a depreciable asset to the parent. O None of these statements is correct. O Every year, the asset will be shown on the consolidated balance sheet at its fair value at the end of the current year. O The total amount of the gain or loss on sale (= selling price - book value on date of sale) has to be eliminated in the consolidation worksheet every year. O The gain or loss on sale of the asset will be realized gradually over the remaining life of the asset. Question 3 2.5 pts Which of the following is true about the Revised Uniform Partnership Act (RUPA)