Which of the following statements is incorrect?

Adjustments for the gain/loss on intragroup sale of property, plant and equipment are made in all periods after the sale.

Where the transferred assets are depreciable, adjustments are made to depreciation accounts (for the current period depreciation) and/or to the retained earnings account (for the previous periods depreciation).

As depreciation reflects the use of the asset by the group, the depreciation adjustments are realising a part of the gain/loss on the intragroup sale of property, plant and equipment.

As the intragroup sale of property, plant and equipment impacts on the profit and the carrying amount of assets, adjustments for the tax effects are also required.