For the Purposes of Recognising a Non-Current Property, Plant and Equipment

question 2

Multiple Choice

For the purposes of recognising a non-current property, plant and equipment asset the acquisition date is determined as the date:

• A) the contract to exchange assets is signed;
• B) on which the offer to acquire the asset becomes unconditional
• C) the consideration is paid;
• D) on which the acquirer obtains control of the asset.

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Definitions:

Operating Activities

Business actions directly related to the production and delivery of goods and services, generating the majority of a company's cash flow.