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a period of time for the acquirer to obtain the information necessary to adjust,if necessary,any provisional estimates originally made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

Global South

A term used to describe countries considered to be in a relatively disadvantaged economic position compared to those in the Global North, often encompassing nations in Latin America, Africa, and parts of Asia that face development challenges.

Negligence Per Se

A legal doctrine establishing negligence due to the violation of a law or statute that is intended to protect the public from harm.

Defense

Strategies and arguments presented in court by the accused party to contest and defeat the claims made by the plaintiff.

Negligence Case

A legal case involving claims that a party's failure to act with reasonable care resulted in harm or damage to another party.