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- IFRS 3 – Business Combinations 0%
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Question 1 of 10
1. Question
Which of the following areas does IFRS 3 apply to?
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Question 2 of 10
2. Question
The requirements of IFRS 3 do not apply to the acquisition by an investment entity, as defined in IFRS 10 Consolidated Financial Statements, of an investment in a subsidiary that is required to be measured at fair value through profit or loss.
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Question 3 of 10
3. Question
If the assets acquired are not a business, the reporting entity shall account for the transaction or other event as __________.
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Question 4 of 10
4. Question
An entity shall account for each business combination by applying the equity method.
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Question 5 of 10
5. Question
For each business combination, one of the combining entities shall be identified as the __________.
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Question 6 of 10
6. Question
Which of the following agrees with IFRS 3 regarding the recognition of costs that the acquirer expects but is not obliged to incur in the future to effect its plan to exit an activity of an acquiree?
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Question 7 of 10
7. Question
The acquirer’s application of the recognition principle and conditions may result in recognising some assets and liabilities that the acquiree had not previously recognised as assets and liabilities in its financial statements.
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Question 8 of 10
8. Question
At the acquisition date, the acquirer shall __________ the identifiable assets acquired and liabilities assumed as necessary to apply other IFRSs subsequently.
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Question 9 of 10
9. Question
Which of the following is not an example of classifications or designations that the acquirer shall make on the basis of the pertinent conditions as they exist at the acquisition date?
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Question 10 of 10
10. Question
The acquirer shall measure the identifiable assets acquired and the liabilities assumed at their:
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