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Question 26 Any intercompany gain or loss on a downstream sale of land should be recognized in consolidated net income: I in the year

Question 26 Any intercompany gain or loss on a downstream sale of land should be recognized in consolidated net income: I in the year of the downsteam sale Il over the period of time the subsidiary uses the land III in the year the subsidiary sells the land to an unrelated party I or II 4.4 pts

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