The term ‘business combination’ is defined in AASB 3/IFRS 3 Business Combinations to include: I. True mergers or mergers of equals. II. An acquisition of a non-current asset. III. A transaction or other event in which a group of assets is acquired by an entity. IV. A transaction or other event in which an acquirer obtains control of one or more businesses. a. I. and II. only. b. I. and IV only. c II., III. and IV only. d. I., II., III. and IV
The term ‘business combination’ is defined in AASB 3/IFRS 3 Business Combinations to include: I. True mergers or mergers of equals. II. An acquisition of a non-current asset. III. A transaction or other event in which a group of assets is acquired by an entity. IV. A transaction or other event in which an acquirer obtains control of one or more businesses. a. I. and II. only. b. I. and IV only. c II., III. and IV only. d. I., II., III. and IV
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter6: Audit Evidence
Section: Chapter Questions
Problem 15CYBK
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Question
The term ‘business combination’ is defined in AASB 3/IFRS 3 Business Combinations to include:
I. |
True mergers or mergers of equals. |
II. |
An acquisition of a non-current asset. |
III. |
A transaction or other event in which a group of assets is acquired by an entity. |
IV. |
A transaction or other event in which an acquirer obtains control of one or more businesses. |
a. I. and II. only.
b. I. and IV only.
c II., III. and IV only.
d. I., II., III. and IV
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