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

question 31

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.

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