Multiple Choice
When accounting for a business combination a contingent liability is recognised if:
A) it is a present obligation that has failed to meet the recognition criteria
B) its fair value can be measured reliably
C) it is a possible obligation and it is probable that it will occur
D) it is probable that an outflow of resources may occur in order to settle the obligation
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Goodwill arising in a business combination is
Q3: The following items are NOT deemed to
Q6: Goodwill is measured as the difference between
Q7: Where the acquirer purchases assets and assumes
Q8: Adjustments cannot be made subsequent to the
Q9: Johnson Limited estimated the net present value
Q11: Neil Limited sold a business to Howell
Q18: Net employee benefit liabilities acquired in a
Q20: A business combination is defined as:<br>A)A transaction
Q21: In a business combination,the acquiree is the