In Accordance with AASB 3 Business Combinations,if an Intangible Asset

question 6

Multiple Choice

In accordance with AASB 3 Business Combinations,if an intangible asset is acquired in a business combination,the cost of the asset is its:

• A)fair value at the combination date.
• B)fair value at the acquisition date.
• C)current replacement cost at the acquisition date.
• D)discounted present value at the acquisition date.

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Definitions:

Primary Groups

are small, close-knit, and usually long-term social groups where members share direct, personal, and significant relationships, providing emotional and social support to each other.

Intimate Relations

Personal and deeply connected relationships between individuals, often characterized by affection, love, trust, and understanding.

McDonaldization

A term used to describe the process by which the principles of the fast-food restaurant are coming to dominate more sectors of society and the world, characterized by efficiency, calculability, predictability, and control through technology.

Subcultures

Groups within a larger culture that have their own distinct values, norms, and practices, often diverging from those of the main society.