S1: In the financial settlement of a contingent consideration classified as financial liability, the amount shall be remeasured at fair value with any gain or loss included in profit or loss. S2: If a new entity is formed to issue equity interests to effect a business combination one of the combining entities that existed before the combination shall be identified as the acquirer.

S1: In the financial settlement of a contingent consideration classified as financial liability, the amount shall be remeasured at fair value with any gain or loss included in profit or loss. S2: If a new entity is formed to issue equity interests to effect a business combination one of the combining entities that existed before the combination shall be identified as the acquirer.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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