PFRS 3 must be applied when accounting for business combinations, but does not apply to: i. Formation of a joint arrangement ii. The acquisition of an asset or group of assets that is not a business although general guidance is provided on how such transactions should be accounted for ii. Combination of entities or businesses under common control iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair value through profit or loss under PFRS 10 Consolidated Financial Statements v. Mutual entities vi. Not-for-profit organizations * O O , i, , v, and vi O L I, ii, and iv O , i, i, v, and v O , i, i, iv, v, and iv
PFRS 3 must be applied when accounting for business combinations, but does not apply to: i. Formation of a joint arrangement ii. The acquisition of an asset or group of assets that is not a business although general guidance is provided on how such transactions should be accounted for ii. Combination of entities or businesses under common control iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair value through profit or loss under PFRS 10 Consolidated Financial Statements v. Mutual entities vi. Not-for-profit organizations * O O , i, , v, and vi O L I, ii, and iv O , i, i, v, and v O , i, i, iv, v, and iv
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter6: Audit Evidence
Section: Chapter Questions
Problem 15CYBK
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![PFRS 3 must be applied when accounting for business combinations, but does not apply to:
i. Formation of a joint arrangement
ii. The acquisition of an asset or group of assets that is not a business although general
guidance is provided on how such transactions should be accounted for
ii. Combination of entities or businesses under common control
iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair
value through profit or loss under PFRS 10 Consolidated Financial Statements
v. Mutual entities
vi. Not-for-profit organizations * G
O i, ii, ii, iv, and vi
O i, i, ii, and iv
O i, i, ii, iv, and v
O i, i, i, iv, v, and iv](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16aef1ed-7196-4c00-9fb2-59032580bfc2%2Faec83456-d704-4864-8613-e4b955179a8c%2Fr17snba_processed.png&w=3840&q=75)
Transcribed Image Text:PFRS 3 must be applied when accounting for business combinations, but does not apply to:
i. Formation of a joint arrangement
ii. The acquisition of an asset or group of assets that is not a business although general
guidance is provided on how such transactions should be accounted for
ii. Combination of entities or businesses under common control
iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair
value through profit or loss under PFRS 10 Consolidated Financial Statements
v. Mutual entities
vi. Not-for-profit organizations * G
O i, ii, ii, iv, and vi
O i, i, ii, and iv
O i, i, ii, iv, and v
O i, i, i, iv, v, and iv
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