Multiple Choice
Company X acquired Company Y when the carrying value of Company Y's plant was $50 000.The fair value of the plant on acquisition date was $65 000.The company tax rate was 30%.How much is the amount of the business combination valuation reserve that must be recognised?
A) $3 500
B) $10 500
C) $15 000
D) $65 000
Correct Answer:
Verified
Correct Answer:
Verified
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