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:

Crop Price

The amount of money that farmers receive for the agricultural products they produce, which can vary based on supply and demand.

Loan Price

The total cost associated with borrowing money, which includes the interest rate and any other fees or charges.

Agricultural Subsidies

Financial assistance programs provided by the government to support farmers, intended to stabilize food prices and ensure a reliable food supply.

Agricultural Act

Legislation enacted by a government to regulate agricultural practices, supports, and policies aimed at stabilizing or enhancing the agricultural sector.