Which of the Following Statements Is Correct

question 33

Multiple Choice

Which of the following statements is correct?

• A)Since 2002,the only acceptable method of accounting for Business Combinations is the Pooling of Interests Method)
• B)Since 2002,the only acceptable method of accounting for Business Combinations is the Purchase Method)
• C)In the future,all Business Combinations shall be accounted for using the New Entity Method only.
• D)The Purchase Method can only be used when Cash is the sole consideration offered by the acquirer in a Business Combination.

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Definitions:

Protective Eye Wear

Safety gear designed to shield the eyes from hazardous exposure, including chemicals, flying debris, or radiation.

Double Check

A safety procedure where two individuals independently verify a task to ensure accuracy and prevent errors.

Palpate

To examine a part of the body by touch, especially for medical purposes to detect any abnormalities.

Deep Palpation

A technique in physical examination to press deeply into the body to feel the organs or tissues.