Which of the following statements is true regarding an intra-entity transfer of land? Multiple Choice A loss and a gain are always recognized in a consolidated income statement A loss is always recognized but a gain is deferred in a consolidated income statement. A gain is always recognized but a loss is deferred in a consolidated income statement Recognition of a gain or loss is deferred by adjusting stockholders' equity through comprehensive income. A loss and a gain are deferred until the land is sold to an outside party