Question 30

0 / 1 pts
Anton Co. owns a 100% interest in the ordinary shares of the Dial Co. On January 1,
20x3, Anton sold Dial an equipment that Dial will use over a 5-year period. The asset
sold at a P5,000 profit. In the consolidated statements, this profit will:

  
Be recognized in the year sale.
 

  
Be recognized when the asset is resold to outsider parties at the end of its period of
use.
 
You Answered
  
Not be recorded
 
Correct Answer
  
Be recognized over 5 years.