Reference no: EM132992608

Problem 1: A business combination is transaction or other event in which an acquirer obtains control of one or more businesses even those under common control. (PFRS 3)

Group of answer choices

True

False

Problem 2: The existence of a bargain purchase is expected to be an unusual or rare event.

Group of answer choices

True

False

Problem 3: The reporting objectives in substance over form although the parent and its subsidiaries are separate legal entities and prepare separate individual financial statements, the overall economic entity is the group of companies.

Group of answer choices

True

False

Problem 4: If PFRS 3,contigent liabilities are recognized only when there is a past obligation that arises from past events and its fair value can be measured reliably.

Group of answer choices

True

False

Problem 5: Push-down accounting results in the revaluation of assets and liabilities of a continuing enterprise, a normal acceptable practice.

Group of answer choices

True

False