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a period of time for the acquirer to obtain the information necessary to adjust,if necessary,any provisional estimates originally made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:

Choiceboard

An interactive online system that allows consumers to customize the features or attributes of a product or service they intend to purchase.

Reebok Design

Refers to the distinctive aesthetic and functional elements in footwear and apparel produced by the athletic brand Reebok.

Athletic Shoes

Footwear designed specifically for sports and physical activities, offering varying levels of support, performance, and durability.

Choiceboard

An interactive online system that allows customers to customize their purchase by choosing from a variety of features, components, or design elements.