Multiple Choice
Mega Corporation acquired 65% of the voting shares of Forko Ltd.Mega consolidated its accounts by restating assets and liabilities of the subsidiary at fair value on the date the shares were acquired.Which of the following methods for accounting for the business combination is being used by Mega Corporation?
A) Purchase method
B) Fair value method
C) Pooling method
D) Current replacement cost method
Correct Answer:
Verified
Correct Answer:
Verified
Q29: Under U.S.GAAP and IASB standards, the threshold
Q30: How is Goodwill resulting from business combinations
Q31: In January 2003, the FASB released Interpretation
Q32: Which method of accounting for changing prices
Q33: Which of the following is a difference
Q35: Under general purchasing power accounting, how is
Q36: Since 2001, which method of accounting for
Q37: As per IFRS 11, which of the
Q38: What does it mean to say that
Q39: Holding monetary liabilities during a period of