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Under Ind AS 103, the acquisition date is:
AThe appointed date mentioned in the agreement, regardless of when control passes
BThe date on which the purchase consideration is computed
CThe date on which the acquirer signs a non-binding letter of intent
DThe date on which the acquirer obtains control of the acquiree
Answer & Solution
Correct answer: D. The date on which the acquirer obtains control of the acquiree
Ind AS 103 fixes the acquisition date as the date the acquirer obtains control — typically the closing date when consideration is transferred and assets/liabilities pass, but it can be earlier or later based on facts and circumstances.
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