ntify the incorrect option with regards to goodwill or gain on bargain purchase in terms of IAS 28 Investment in Associates Select one: a. A gain on bargain purchase is included in the share of profit of associate in the period in which the investment is acquired. b. Goodwill arising from acquiring an investment in associate is amortized. c. Goodwill included in the carrying amount of an investment in associate is not recognised separately recognised, thus it is not tested for impairment separately. d. If any goodwill arises as a result of acquiring an investment in associate the goodwill is included in the carrying amount of the investment.
ntify the incorrect option with regards to goodwill or gain on bargain purchase in terms of IAS 28 Investment in Associates Select one: a. A gain on bargain purchase is included in the share of profit of associate in the period in which the investment is acquired. b. Goodwill arising from acquiring an investment in associate is amortized. c. Goodwill included in the carrying amount of an investment in associate is not recognised separately recognised, thus it is not tested for impairment separately. d. If any goodwill arises as a result of acquiring an investment in associate the goodwill is included in the carrying amount of the investment.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Identify the incorrect option with regards to goodwill or gain on bargain purchase in terms of IAS 28 Investment in Associates
Select one:
a. A gain on bargain purchase is included in the share of profit of associate in the period in which the investment is acquired.
b. Goodwill arising from acquiring an investment in associate is amortized.
c. Goodwill included in the carrying amount of an investment in associate is not recognised separately recognised, thus it is not tested for impairment separately.
d. If any goodwill arises as a result of acquiring an investment in associate the goodwill is included in the carrying amount of the investment.
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