Appendix a of IFRS 3provides an Extensive List of What

question 50

Multiple Choice

Appendix A of IFRS 3provides an extensive list of what must be disclosed for each Business Combination. Which of the following items is NOT included in that list?

• A) The acquisition-date fair value of the total consideration given.
• B) The amounts recognized as of the acquisition date for each major class of assets and liabilities assumed.
• C) Legal, contractual and regulatory restrictions and the carrying amount of the assets and liabilities to which those restrictions apply.
• D)The net assets of both companies at book value as disclosed in the financial statements of each company prior to the business combination.

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Definitions:

Antiassignment Clauses

Provisions within contracts that prohibit the transfer of rights or delegation of duties to another party without prior consent.

UCC

Stands for the Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business transactions and agreements in the United States.

Assignment

The act of moving ownership, possessions, or duties from one individual to another.

Bilateral Contract

A contractual agreement involving two parties where each promises to perform an act in exchange for the other's act.