According to IFRS 3, Which of the Following Statements Is

question 48

Multiple Choice

According to IFRS 3, which of the following statements is true about the treatment of Goodwill arising from business combinations?

• A)It is capitalized and amortized over a period of no more than 40 years.
• B)It is expensed in the year the subsidiary is acquired.
• C)It is required to be tested for impairment every year.
• D)It is amortized over between 5 and 40 years.

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Definitions:

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires.

Coordinating

The process of organizing activities and resources efficiently to achieve defined objectives, often involving aligning efforts across different teams or departments.

Organization Goals

The objectives or targets that an organization aims to achieve, which guide its actions and strategies.

Environmentally-Friendly

Refers to practices, products, and behaviors that cause minimal harm to the environment.