Under AASB 3/IFRS 3 Business Combinations, a Gain on Bargain

Multiple Choice

Under AASB 3/IFRS 3 Business Combinations, a gain on bargain purchase arises when the acquirer's interest in the net fair value of the acquiree's identifiable assets and liabilities is:

A) less than the carrying amount of the net assets acquired.
B) less than the consideration transferred.
C) greater than the consideration transferred.
D) more than the book values of the identifiable assets acquired.