Question: On October 6 , 2 0 2 4 , Ronan Corporation sold land to Bane Company, its wholly owned subsidiary. Th was sold to Bane

On October 6,2024, Ronan Corporation sold land to Bane Company, its wholly owned subsidiary. Th was sold to Bane for $96,000. For consolidated financial statement reporting purposes, when must t land be recognized?
Multiple Choice
Proportionately over a designated period of years
When Bare sells the land to a thiud party
No gain may be recognized.
On October 6 , 2 0 2 4 , Ronan Corporation sold

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