Which of the Following Statements Is Not in Accordance with AASB

question 6

Multiple Choice

Which of the following statements is not in accordance with AASB 3 "Business Combinations"?

• A) An entity shall account for each business combination by applying the acquisition method.
• B) For each business combination, one of the combining entities shall be identified as the acquirer.
• C) The acquirer is required to recognise, separately from goodwill, the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree.
• D) The acquirer shall measure the identifiable assets acquired and the liabilities assumed at their acquisition-date agreed values.
• E) None of the given answers.

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Definitions:

Busing

The means of transporting students via buses to achieve school integration in the 1970s.

Griggs V. Duke

A landmark 1971 Supreme Court case (Griggs v. Duke Power Co.) that prohibited employment discrimination and established the principle of disparate impact, shaping civil rights and labor law.

Racially Neutral

Refers to policies, actions, or attitudes that do not favor any specific race or ethnic group, aiming for fairness and equality across racial lines.