The 'Business Combinations' (Ind AS 103) require acquisition method. It involves:
A. No goodwill
B. Only merger accounting
C. Pooling of interests
D. Identifying acquirer, determining acquisition date, recognising and measuring identifiable assets, liabilities, and non-controlling interest, and recognising goodwill or bargain purchase
Answer: Option D
Solution (By JKSSB Mock Tests)
Ind AS 103 mandates the acquisition method for business combinations.
S1: SEBI regulates the primary and secondary capital markets in India. S2: SEBI was established by a legislative act of Parliament. Which statement(s) is/are correct?
Explanation:
SEBI regulates both primary (new issues) and secondary (trading) markets to protect investors. It was initially established in 1988 and later given statutory powers through the SEBI Act, 1992. Both statements are correct.
Explanation:
Trial balance is a statement, not a book of original entry. Subsidiary books include cash book, purchase book, sales book, journal proper, etc.
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