Under certain circumstances, profits made on transactions between members of a group need to be eliminated from the consolidated financial statements under IFRS.
Which of the following statements about intra-group profits in consolidated financial statements is/are correct?
(i) The profit made by a parent on the sale of goods to a subsidiary is only realised when the subsidiary sells the goods to a third party
(ii) Eliminating intra-group unrealised profits never affects non-controlling interests
(iii) The profit element of goods supplied by the parent to an associate and held in year-end inventory must be eliminated in full
A.(i) only
B.(i) and (ii)
C.(ii) and (iii)
D.(iii) only
正确答案：A(i) is the only correct elimination required by IFRS.
