1 answer

45. Which of the following events is an intercompany transaction? A) a capital contribution B) a parent corporation's sa...

Question:

45. Which of the following events is an intercompany transaction?

A) a capital contribution

B) a parent corporation's sale of stock of a subsidiary corporation to a nonmember of the group

C) dividend payment received from a subsidiary corporation to its parent corporation; the subsidiary corporation is not an includible corporation

D) accrual of interest on a loan made by one group member to another group member; both group members use the accrual method of accounting


Answers

Ans is D

Accrual of interest on a loan made by one group member to another group member; both group members use the accrual method of accounting.

Reason:-

Point A,B and C are not intercompany transaction.

In Point D, transactions are occurring between two group members which is an apparent sign of intercompany relationship.

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