Which of the Following Statements Is Incorrect

question 7

Multiple Choice

Which of the following statements is incorrect?

• A)AASB 3 allows a period of time for the acquirer to obtain the information necessary to adjust,if necessary,any provisional estimates originally made
• B)provisional estimates may relate to the consideration transferred for the acquiree
• C)it may be necessary for an entity to make provisional estimates when initially recording a business combination in its accounts
• D)adjustments to provisional amounts for identifiable assets and liabilities are generally recognised through a revenues or expense in the profit and loss

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Definitions:

Functional

In sociology, referring to the aspects of societies or institutions that contribute to their stability and continuity by fulfilling necessary roles.

Practical

Pertains to real-world applications or actions rather than theoretical ideas, emphasizing usability and effectiveness in everyday situations.

Functionalist Theorists

Scholars who analyze society through the lens of function, arguing that each aspect of society is interdependent and contributes to society's functioning as a whole.

Social Change

The alteration in the social order of a society, encompassing changes in nature, social institutions, social behaviors, or social relations.