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Answer with true or false. No need explanation. 1. Indirect cost incurred by the entity in business combination is recognized as expense

Answer with true or false. No need explanation. 1. Indirect cost incurred by the entity in business combination is recognized as expense

FINANCIAL ACCOUNTING
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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Answer with true or false. No need explanation.

1. Indirect cost incurred by the entity in business combination is recognized as expense.

2. PFRS 10 defines control as the power to govern the financial and operating policies as to obtain benefits from its activities.

3. An investor has no power over the investee even if the investor holds the majority of the voting rights if those rights are not substantive.

4. A subsidiary should be excluded from the consolidated statements if the subsidiary operates under governmentally impose uncertainty.

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