Walmart,the World's Largest Retailer by Revenue,announced That It Will Get

question 94

Multiple Choice

Walmart,the world's largest retailer by revenue,announced that it will get back to its founder's roots by initiating more price cuts.Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins.CEO Mike Duke assuaged critics by saying Walmart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold.
-Refer to Walmart.In terms of ownership,Walmart would be classified as a(n) :

• A) independent retailer
• B) chain store
• C) franchise
• D) discount store
• E) department store

Understand how to record business combinations in financial statements under IFRS 3.

Identify and apply the correct method of accounting for business acquisitions.

Recognize and account for the costs associated with issuing debt and shares in acquisitions.

Determine the acquirer in various business combination scenarios.

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Definitions:

Sequence

An ordered list or arrangement of items, events, or actions following a specific logical or systematic pattern.

Predominant Factor Test

A legal doctrine used to classify a transaction within the framework of the Uniform Commercial Code (UCC) by determining the main purpose of the contract.

Liberally Administered

A principle or policy applied in a manner that is flexible, generous, or not strictly in accordance with strict rules or formalities.

Aggrieved Party

An individual or entity that has suffered legal wrong or harm, and who is entitled to bring a lawsuit against the party responsible for that harm.