Where the Contingent Consideration Is a Financial Liability, It Will

question 10

Multiple Choice

Where the contingent consideration is a financial liability, it will be accounted for under IFRS #9 and measured at ____________ value with movements being accounted for in accordance with that standard.

• A)book
• B)fair
• C)carrying
• D)future

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Definitions:

Compliance

The act of conforming to a rule, standard, or law.

Commitment

The state or quality of being dedicated to a cause, activity, or job; wholeheartedly engaged and loyal.

Project Manger

A professional responsible for planning, executing, and closing projects, ensuring they are completed on time, within budget, and to scope.

Legitimate Power

Authority that is recognized and accepted by others within an organizational structure.