Which of the Following Statements Is Incorrect

Which of the following statements is incorrect?

A) where consolidated financial statements are not prepared,the cost method must be applied in the investor's own books
B) only the percentage of the investor's ownership interest in the associate should be eliminated
C) unrealised profit and losses on both upstream and downstream transactions should be eliminated
D) when an asset is transferred with an intention that the asset will not be sold to an external party,realisation of the profit/loss occurs as the asset is used/consumed