What review precedes booking any bargain purchase gain?
ARecheck what was identified
BRevalue its own assets
CGet NCI holders' consent
DWrite off old goodwill
Answer & Solution
Correct answer: A. Recheck what was identified
The standard requires a review of whether all assets and liabilities were correctly identified and measured before any gain is booked.
Keep practising Ind AS 103 Business Combinations
Browse all Ind AS 103 Business Combinations questions for CA Final, or explore more Financialreporting topics.
Related questions
Acquiree's suit: present obligation, Rs 12 lakh fair value, payment unlikely. Entry?Vested acquiree awards that the acquirer does not replace become part of what?Fair value is an exit price in an orderly deal between which parties?What does Ind AS 103 add that IFRS 3 lacks on group reorganisations?Goodwill in Ind AS 103 is an asset that represents what?Which item does Ind AS 103 leave out of its scope?In pooling, the transferor's retained earnings balance is handled how?Does a large minority shareholding in a group company change its common control status?