{"id":1689,"date":"2022-05-10T18:24:10","date_gmt":"2022-05-10T10:24:10","guid":{"rendered":"https:\/\/probcentre.com\/my\/?page_id=1689"},"modified":"2022-05-11T09:38:52","modified_gmt":"2022-05-11T01:38:52","slug":"mcq-business-combination","status":"publish","type":"page","link":"https:\/\/probcentre.com\/my\/mcq-business-combination\/","title":{"rendered":"MCQ Business Combination"},"content":{"rendered":"<div class=\"frm_forms  with_frm_style frm_style_cheng-co\" id=\"frm_form_43_container\" data-token=\"5fa3fa3f6f3c5bda423db33e50556b5f\">\n<form enctype=\"multipart\/form-data\" method=\"post\" class=\"frm-show-form  frm_pro_form \" id=\"form_audittrainingquiz98fad4f4d7\" data-token=\"5fa3fa3f6f3c5bda423db33e50556b5f\">\n<div class=\"frm_form_fields \">\n<fieldset>\n<legend class=\"frm_screen_reader\">MCQ Business Combination<\/legend>\r\n\r\n<div class=\"frm_fields_container\">\n<input type=\"hidden\" name=\"frm_action\" value=\"create\" \/>\n<input type=\"hidden\" name=\"form_id\" value=\"43\" \/>\n<input type=\"hidden\" name=\"frm_hide_fields_43\" id=\"frm_hide_fields_43\" value=\"\" \/>\n<input type=\"hidden\" name=\"form_key\" value=\"audittrainingquiz98fad4f4d7\" \/>\n<input type=\"hidden\" name=\"item_meta[0]\" value=\"\" \/>\n<input type=\"hidden\" id=\"frm_submit_entry_43\" name=\"frm_submit_entry_43\" value=\"a3a8eebff6\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/my\/wp-json\/wp\/v2\/pages\/1689\" \/><div id=\"frm_field_1297_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container\">\r\n    <label for=\"field_g6m5z7f17a72e2e\" id=\"field_g6m5z7f17a72e2e_label\" class=\"frm_primary_label\">Name\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/label>\r\n    <input type=\"text\" id=\"field_g6m5z7f17a72e2e\" name=\"item_meta[1297]\" value=\"\"  data-reqmsg=\"Name cannot be blank.\" aria-required=\"true\" data-invmsg=\"Text is invalid\" aria-invalid=\"false\"  \/>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1298_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container\">\r\n    <label for=\"field_aj5ho4f82fce112\" id=\"field_aj5ho4f82fce112_label\" class=\"frm_primary_label\">Branch\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/label>\r\n    <input type=\"text\" id=\"field_aj5ho4f82fce112\" name=\"item_meta[1298]\" value=\"\"  data-reqmsg=\"Branch cannot be blank.\" aria-required=\"true\" data-invmsg=\"Text is invalid\" aria-invalid=\"false\"  \/>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1299_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_pq0bu876f65932c_label\" class=\"frm_primary_label\">1. Which are the three elements of business combination?\t\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_pq0bu876f65932c_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1299-0\">\t\t\t<label  for=\"field_pq0bu876f65932c-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1299]\" id=\"field_pq0bu876f65932c-0\" value=\"a.\tInput, Resource, Output\"\n\t\t   data-reqmsg=\"1. Which are the three elements of business combination?\t cannot be blank.\" data-invmsg=\"1. Which are the three elements of business combination?\t is invalid\" aria-invalid=\"false\"  \/> a.\tInput, Resource, Output<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1299-1\">\t\t\t<label  for=\"field_pq0bu876f65932c-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1299]\" id=\"field_pq0bu876f65932c-1\" value=\"b.\tInput, Process, Output\"\n\t\t   data-reqmsg=\"1. Which are the three elements of business combination?\t cannot be blank.\" data-invmsg=\"1. Which are the three elements of business combination?\t is invalid\" aria-invalid=\"false\"  \/> b.\tInput, Process, Output<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1299-2\">\t\t\t<label  for=\"field_pq0bu876f65932c-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1299]\" id=\"field_pq0bu876f65932c-2\" value=\"c.\tProcess, Return, Output\"\n\t\t   data-reqmsg=\"1. Which are the three elements of business combination?\t cannot be blank.\" data-invmsg=\"1. Which are the three elements of business combination?\t is invalid\" aria-invalid=\"false\"  \/> c.\tProcess, Return, Output<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1299-3\">\t\t\t<label  for=\"field_pq0bu876f65932c-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1299]\" id=\"field_pq0bu876f65932c-3\" value=\"d.\tInput, Process, Control\"\n\t\t   data-reqmsg=\"1. Which are the three elements of business combination?\t cannot be blank.\" data-invmsg=\"1. Which are the three elements of business combination?\t is invalid\" aria-invalid=\"false\"  \/> d.\tInput, Process, Control<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1300_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_733ppc4c269e585_label\" class=\"frm_primary_label\">2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_733ppc4c269e585_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1300-0\">\t\t\t<label  for=\"field_733ppc4c269e585-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1300]\" id=\"field_733ppc4c269e585-0\" value=\"a.\tAt least 20% ownership in the entity\"\n\t\t   data-reqmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has cannot be blank.\" data-invmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has is invalid\" aria-invalid=\"false\"  \/> a.\tAt least 20% ownership in the entity<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1300-1\">\t\t\t<label  for=\"field_733ppc4c269e585-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1300]\" id=\"field_733ppc4c269e585-1\" value=\"b.\tMore than 50% ownership in the entity\"\n\t\t   data-reqmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has cannot be blank.\" data-invmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has is invalid\" aria-invalid=\"false\"  \/> b.\tMore than 50% ownership in the entity<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1300-2\">\t\t\t<label  for=\"field_733ppc4c269e585-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1300]\" id=\"field_733ppc4c269e585-2\" value=\"c.\t100% ownership in the entity\"\n\t\t   data-reqmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has cannot be blank.\" data-invmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has is invalid\" aria-invalid=\"false\"  \/> c.\t100% ownership in the entity<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1300-3\">\t\t\t<label  for=\"field_733ppc4c269e585-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1300]\" id=\"field_733ppc4c269e585-3\" value=\"d.\tControl over the entity, irrespective of the percentage owned\"\n\t\t   data-reqmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has cannot be blank.\" data-invmsg=\"2. Following the accounting concept of a business combination, a business combination occurs when a company acquires an equity interest in another entity and has is invalid\" aria-invalid=\"false\"  \/> d.\tControl over the entity, irrespective of the percentage owned<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1301_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_xkzeva657ce329b_label\" class=\"frm_primary_label\">3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_xkzeva657ce329b_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1301-0\">\t\t\t<label  for=\"field_xkzeva657ce329b-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1301]\" id=\"field_xkzeva657ce329b-0\" value=\"a.\tAn expense for the current year\"\n\t\t   data-reqmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as cannot be blank.\" data-invmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as is invalid\" aria-invalid=\"false\"  \/> a.\tAn expense for the current year<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1301-1\">\t\t\t<label  for=\"field_xkzeva657ce329b-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1301]\" id=\"field_xkzeva657ce329b-1\" value=\"b.\tPrior period adjustment to retained earnings\"\n\t\t   data-reqmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as cannot be blank.\" data-invmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as is invalid\" aria-invalid=\"false\"  \/> b.\tPrior period adjustment to retained earnings<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1301-2\">\t\t\t<label  for=\"field_xkzeva657ce329b-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1301]\" id=\"field_xkzeva657ce329b-2\" value=\"c.\tAdditional cost to investment on the consolidated balance sheet\"\n\t\t   data-reqmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as cannot be blank.\" data-invmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as is invalid\" aria-invalid=\"false\"  \/> c.\tAdditional cost to investment on the consolidated balance sheet<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1301-3\">\t\t\t<label  for=\"field_xkzeva657ce329b-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1301]\" id=\"field_xkzeva657ce329b-3\" value=\"d.\tA reduction in additional paid-in capital\"\n\t\t   data-reqmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as cannot be blank.\" data-invmsg=\"3. ABC Sdn. Bhd. paid RM100,000 in fees to its accountants and lawyers in acquiring a local company. ABC Sdn. Bhd. will treat the RM100,000 as is invalid\" aria-invalid=\"false\"  \/> d.\tA reduction in additional paid-in capital<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1302_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_74fuf69b600d634_label\" class=\"frm_primary_label\">4. In a business combination, which of the following will occur?\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_74fuf69b600d634_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1302-0\">\t\t\t<label  for=\"field_74fuf69b600d634-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1302]\" id=\"field_74fuf69b600d634-0\" value=\"a.\tAll identifiable assets and liabilities are recorded at fair value at the date of acquisition\"\n\t\t   data-reqmsg=\"4. In a business combination, which of the following will occur? cannot be blank.\" data-invmsg=\"4. In a business combination, which of the following will occur? is invalid\" aria-invalid=\"false\"  \/> a.\tAll identifiable assets and liabilities are recorded at fair value at the date of acquisition<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1302-1\">\t\t\t<label  for=\"field_74fuf69b600d634-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1302]\" id=\"field_74fuf69b600d634-1\" value=\"b.\tNo measure goodwill or a gain from a bargain purchase\"\n\t\t   data-reqmsg=\"4. In a business combination, which of the following will occur? cannot be blank.\" data-invmsg=\"4. In a business combination, which of the following will occur? is invalid\" aria-invalid=\"false\"  \/> b.\tNo measure goodwill or a gain from a bargain purchase<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1302-2\">\t\t\t<label  for=\"field_74fuf69b600d634-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1302]\" id=\"field_74fuf69b600d634-2\" value=\"c.\tGoodwill is recorded if the fair value of the net assets acquired exceeds the book value of the net assets acquired\"\n\t\t   data-reqmsg=\"4. In a business combination, which of the following will occur? cannot be blank.\" data-invmsg=\"4. In a business combination, which of the following will occur? is invalid\" aria-invalid=\"false\"  \/> c.\tGoodwill is recorded if the fair value of the net assets acquired exceeds the book value of the net assets acquired<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1302-3\">\t\t\t<label  for=\"field_74fuf69b600d634-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1302]\" id=\"field_74fuf69b600d634-3\" value=\"d.\tNone of the above is correct\"\n\t\t   data-reqmsg=\"4. In a business combination, which of the following will occur? cannot be blank.\" data-invmsg=\"4. In a business combination, which of the following will occur? is invalid\" aria-invalid=\"false\"  \/> d.\tNone of the above is correct<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1303_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_9527e149d009094_label\" class=\"frm_primary_label\">5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct?\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_9527e149d009094_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1303-0\">\t\t\t<label  for=\"field_9527e149d009094-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1303]\" id=\"field_9527e149d009094-0\" value=\"a.\tA gain from a bargain purchase is recognized for the amount that the fair value of the identifiable net assets acquired exceeds the acquisition price\"\n\t\t   data-reqmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? cannot be blank.\" data-invmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? is invalid\" aria-invalid=\"false\"  \/> a.\tA gain from a bargain purchase is recognized for the amount that the fair value of the identifiable net assets acquired exceeds the acquisition price<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1303-1\">\t\t\t<label  for=\"field_9527e149d009094-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1303]\" id=\"field_9527e149d009094-1\" value=\"b.\tThe difference is allocated first to reduce proportionately (according to market value) non-current assets, then to non-monetary current assets, and any negative remainder is classified as a deferred income\"\n\t\t   data-reqmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? cannot be blank.\" data-invmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? is invalid\" aria-invalid=\"false\"  \/> b.\tThe difference is allocated first to reduce proportionately (according to market value) non-current assets, then to non-monetary current assets, and any negative remainder is classified as a deferred income<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1303-2\">\t\t\t<label  for=\"field_9527e149d009094-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1303]\" id=\"field_9527e149d009094-2\" value=\"c.\tThe difference is allocated first to reduce proportionately (according to market value) non-current assets, and any negative remainder is classified as an one-off gain\"\n\t\t   data-reqmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? cannot be blank.\" data-invmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? is invalid\" aria-invalid=\"false\"  \/> c.\tThe difference is allocated first to reduce proportionately (according to market value) non-current assets, and any negative remainder is classified as an one-off gain<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1303-3\">\t\t\t<label  for=\"field_9527e149d009094-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1303]\" id=\"field_9527e149d009094-3\" value=\"d.\tThe difference is allocated first to reduce proportionately (according to market value) non-current, depreciable assets to zero, and any negative remainder is classified as a deferred income\"\n\t\t   data-reqmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? cannot be blank.\" data-invmsg=\"5. In a business combination, when the fair value of identifiable net assets acquired exceeds the investment cost, which of the following statements is correct? is invalid\" aria-invalid=\"false\"  \/> d.\tThe difference is allocated first to reduce proportionately (according to market value) non-current, depreciable assets to zero, and any negative remainder is classified as a deferred income<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1304_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_4swzc146687c871_label\" class=\"frm_primary_label\">6. With respect to goodwill, an impairment\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_4swzc146687c871_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1304-0\">\t\t\t<label  for=\"field_4swzc146687c871-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1304]\" id=\"field_4swzc146687c871-0\" value=\"a.\tWill be amortized over the remaining useful life\"\n\t\t   data-reqmsg=\"6. With respect to goodwill, an impairment cannot be blank.\" data-invmsg=\"6. With respect to goodwill, an impairment is invalid\" aria-invalid=\"false\"  \/> a.\tWill be amortized over the remaining useful life<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1304-1\">\t\t\t<label  for=\"field_4swzc146687c871-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1304]\" id=\"field_4swzc146687c871-1\" value=\"b.\tOccurs when goodwill is positive and to perform annual impairment test\"\n\t\t   data-reqmsg=\"6. With respect to goodwill, an impairment cannot be blank.\" data-invmsg=\"6. With respect to goodwill, an impairment is invalid\" aria-invalid=\"false\"  \/> b.\tOccurs when goodwill is positive and to perform annual impairment test<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1304-2\">\t\t\t<label  for=\"field_4swzc146687c871-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1304]\" id=\"field_4swzc146687c871-2\" value=\"c.\tIs a one-step process considering the entire firm\"\n\t\t   data-reqmsg=\"6. With respect to goodwill, an impairment cannot be blank.\" data-invmsg=\"6. With respect to goodwill, an impairment is invalid\" aria-invalid=\"false\"  \/> c.\tIs a one-step process considering the entire firm<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1304-3\">\t\t\t<label  for=\"field_4swzc146687c871-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1304]\" id=\"field_4swzc146687c871-3\" value=\"d.\tOccurs when asset values are adjusted to fair value in a purchase\"\n\t\t   data-reqmsg=\"6. With respect to goodwill, an impairment cannot be blank.\" data-invmsg=\"6. With respect to goodwill, an impairment is invalid\" aria-invalid=\"false\"  \/> d.\tOccurs when asset values are adjusted to fair value in a purchase<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1309_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_l696w_label\" class=\"frm_primary_label\">7. Ownership interests in a subsidiary entity other than the parent's interest are referred to as:\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_l696w_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1309-0\">\t\t\t<label  for=\"field_l696w-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1309]\" id=\"field_l696w-0\" value=\"a.\tOutside interests\"\n\t\t   data-reqmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: cannot be blank.\" data-invmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: is invalid\" aria-invalid=\"false\"  \/> a.\tOutside interests<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1309-1\">\t\t\t<label  for=\"field_l696w-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1309]\" id=\"field_l696w-1\" value=\"b.\tPartial interests\"\n\t\t   data-reqmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: cannot be blank.\" data-invmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: is invalid\" aria-invalid=\"false\"  \/> b.\tPartial interests<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1309-2\">\t\t\t<label  for=\"field_l696w-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1309]\" id=\"field_l696w-2\" value=\"c.\tMinority interests\"\n\t\t   data-reqmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: cannot be blank.\" data-invmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: is invalid\" aria-invalid=\"false\"  \/> c.\tMinority interests<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1309-3\">\t\t\t<label  for=\"field_l696w-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1309]\" id=\"field_l696w-3\" value=\"d.\tNon-controlling interests\"\n\t\t   data-reqmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: cannot be blank.\" data-invmsg=\"7. Ownership interests in a subsidiary entity other than the parent&#039;s interest are referred to as: is invalid\" aria-invalid=\"false\"  \/> d.\tNon-controlling interests<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1306_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_kpomxa88458da57_label\" class=\"frm_primary_label\">8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd's net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record:\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_kpomxa88458da57_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1306-0\">\t\t\t<label  for=\"field_kpomxa88458da57-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1306]\" id=\"field_kpomxa88458da57-0\" value=\"a.\tGoodwill of RM1,000\"\n\t\t   data-reqmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: cannot be blank.\" data-invmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: is invalid\" aria-invalid=\"false\"  \/> a.\tGoodwill of RM1,000<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1306-1\">\t\t\t<label  for=\"field_kpomxa88458da57-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1306]\" id=\"field_kpomxa88458da57-1\" value=\"b.\tGain on bargain purchase of RM1,000\"\n\t\t   data-reqmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: cannot be blank.\" data-invmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: is invalid\" aria-invalid=\"false\"  \/> b.\tGain on bargain purchase of RM1,000<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1306-2\">\t\t\t<label  for=\"field_kpomxa88458da57-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1306]\" id=\"field_kpomxa88458da57-2\" value=\"c.\tGoodwill of RM7,000\"\n\t\t   data-reqmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: cannot be blank.\" data-invmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: is invalid\" aria-invalid=\"false\"  \/> c.\tGoodwill of RM7,000<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1306-3\">\t\t\t<label  for=\"field_kpomxa88458da57-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1306]\" id=\"field_kpomxa88458da57-3\" value=\"d.\tGain on bargain purchase of RM30,000\"\n\t\t   data-reqmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: cannot be blank.\" data-invmsg=\"8. Rubber Sdn Bhd acquired the net assets and contingent liabilities of Yong Sdn Bhd for a purchase consideration of RM30,000. Yong Sdn Bhd&#039;s net assets and contingent liabilities were: Total assets RM42,000; Total liabilities RM5,000; Contingent liabilities RM6,000. Rubber Sdn Bhd will record: is invalid\" aria-invalid=\"false\"  \/> d.\tGain on bargain purchase of RM30,000<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1307_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_z1pk580f20d2b03_label\" class=\"frm_primary_label\">9. What are joint operations?\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_z1pk580f20d2b03_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1307-0\">\t\t\t<label  for=\"field_z1pk580f20d2b03-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1307]\" id=\"field_z1pk580f20d2b03-0\" value=\"a.\tthe parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement.\"\n\t\t   data-reqmsg=\"9. What are joint operations? cannot be blank.\" data-invmsg=\"9. What are joint operations? is invalid\" aria-invalid=\"false\"  \/> a.\tthe parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement.<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1307-1\">\t\t\t<label  for=\"field_z1pk580f20d2b03-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1307]\" id=\"field_z1pk580f20d2b03-1\" value=\"b.\tthe parties that have joint control of the arrangement have rights to the net assets of the arrangement.\"\n\t\t   data-reqmsg=\"9. What are joint operations? cannot be blank.\" data-invmsg=\"9. What are joint operations? is invalid\" aria-invalid=\"false\"  \/> b.\tthe parties that have joint control of the arrangement have rights to the net assets of the arrangement.<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1307-2\">\t\t\t<label  for=\"field_z1pk580f20d2b03-2\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1307]\" id=\"field_z1pk580f20d2b03-2\" value=\"c.\tthe parties that have joint control of the arrangement have rights to the income and expenses only of the arrangement.\"\n\t\t   data-reqmsg=\"9. What are joint operations? cannot be blank.\" data-invmsg=\"9. What are joint operations? is invalid\" aria-invalid=\"false\"  \/> c.\tthe parties that have joint control of the arrangement have rights to the income and expenses only of the arrangement.<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1307-3\">\t\t\t<label  for=\"field_z1pk580f20d2b03-3\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1307]\" id=\"field_z1pk580f20d2b03-3\" value=\"d.\tcommits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both\"\n\t\t   data-reqmsg=\"9. What are joint operations? cannot be blank.\" data-invmsg=\"9. What are joint operations? is invalid\" aria-invalid=\"false\"  \/> d.\tcommits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n<div id=\"frm_field_1308_container\" class=\"frm_form_field form-field  frm_required_field frm_top_container vertical_radio\">\r\n    <div  id=\"field_ujrl7d0db24018e_label\" class=\"frm_primary_label\">10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________\r\n        <span class=\"frm_required\" aria-hidden=\"true\">*<\/span>\r\n    <\/div>\r\n    <div class=\"frm_opt_container\" aria-labelledby=\"field_ujrl7d0db24018e_label\" role=\"radiogroup\" aria-required=\"true\">\t\t<div class=\"frm_radio\" id=\"frm_radio_1308-0\">\t\t\t<label  for=\"field_ujrl7d0db24018e-0\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1308]\" id=\"field_ujrl7d0db24018e-0\" value=\"a.\t(1) measure at cost (2) financial liabilities\"\n\t\t   data-reqmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ cannot be blank.\" data-invmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ is invalid\" aria-invalid=\"false\"  \/> a.\t(1) measure at cost (2) financial liabilities<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1308-1\">\t\t\t<label  for=\"field_ujrl7d0db24018e-1\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1308]\" id=\"field_ujrl7d0db24018e-1\" value=\"b.\t(1) measure at cost (2) financial asset\"\n\t\t   data-reqmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ cannot be blank.\" data-invmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ is invalid\" aria-invalid=\"false\"  \/> b.\t(1) measure at cost (2) financial asset<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1308-5\">\t\t\t<label  for=\"field_ujrl7d0db24018e-5\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1308]\" id=\"field_ujrl7d0db24018e-5\" value=\"c.\t(1) remeasured to fair value (2) financial asset\"\n\t\t   data-reqmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ cannot be blank.\" data-invmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ is invalid\" aria-invalid=\"false\"  \/> c.\t(1) remeasured to fair value (2) financial asset<\/label><\/div>\n\t\t<div class=\"frm_radio\" id=\"frm_radio_1308-6\">\t\t\t<label  for=\"field_ujrl7d0db24018e-6\">\n\t\t\t\t\t<input type=\"radio\" name=\"item_meta[1308]\" id=\"field_ujrl7d0db24018e-6\" value=\"d.\t(1) zero (2) financial liabilities\"\n\t\t   data-reqmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ cannot be blank.\" data-invmsg=\"10. The carrying amount of the investment at the date that the entity ceases to be a subsidiary shall be (1)______________ at the disposal date and accounted for as a financial (2)______________ is invalid\" aria-invalid=\"false\"  \/> d.\t(1) zero (2) financial liabilities<\/label><\/div>\n<\/div>\r\n    \r\n    \r\n<\/div>\n\t<input type=\"hidden\" name=\"item_key\" value=\"\" \/>\n\t\t\t\t<div class=\"frm__66ea386e00cef\">\n\t\t\t\t<label for=\"frm_email_43\" >\n\t\t\t\t\tIf you are human, leave this field blank.\t\t\t\t<\/label>\n\t\t\t\t<input  id=\"frm_email_43\" type=\"text\" class=\"frm_verify\" name=\"frm__66ea386e00cef\" value=\"\" autocomplete=\"off\"  \/>\n\t\t\t<\/div>\n\t\t<input name=\"frm_state\" type=\"hidden\" value=\"L3DZEykameToqv5Yz18nHmjTnAigExu7AapfKledbhU=\" \/><div class=\"frm_submit\">\r\n\r\n<button class=\"frm_button_submit frm_final_submit\" type=\"submit\"  >Submit<\/button>\r\n\r\n<\/div><\/div>\n<\/fieldset>\n<\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"_links":{"self":[{"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/pages\/1689"}],"collection":[{"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/comments?post=1689"}],"version-history":[{"count":1,"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/pages\/1689\/revisions"}],"predecessor-version":[{"id":1690,"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/pages\/1689\/revisions\/1690"}],"wp:attachment":[{"href":"https:\/\/probcentre.com\/my\/wp-json\/wp\/v2\/media?parent=1689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}