Which of the Following Statements Is FALSE

Multiple Choice

Which of the following statements is FALSE?

A) IFRS defines a business combination as a transaction or other event in which an acquirer obtains control of one or more businesses.
B) IFRS 3 applies only to combinations involving 'businesses', thereby excluding other exchanges of assets between entities.
C) A business generally must be capable of providing a return to the owners, and would always involve entities whose activities have inputs, processes and outputs.
D) IFRS 3 excludes certain combinations of businesses from its scope, including those established as joint ventures or under common control.