Under IFRS 3, Which Concept Must Be Used to Report

question 14

Multiple Choice

Under IFRS 3, which concept must be used to report the assets and liabilities of an acquired company on the parent company financial statements?

• A)Parent company concept
• B)Equity concept
• C)Entity concept
• D)Historical cost concept

Grasp the principles and components of a visionary organization, including the need to set a direction and formulate strategies.

Recognize the importance and characteristics of organizational core values, and how they guide conduct over time.

Distinguish between the organizational mission, vision, and core values.

Acknowledge the concept and significance of stakeholders in an organization's ecosystem.