Acquisition Accounting Terminology Quiz

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Questions and Answers

What is acquisition date?

The date on which the acquiree obtains control of the acquirer
The date on which both parties agree to the acquisition
The date on which the acquisition is announced to the public
The date on which the acquirer obtains control of the acquiree (correct)

What is FV?

The value of the asset at the time of disposal
The value that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (correct)
The value of the asset at the time of acquisition
The value of the asset as determined by the acquirer

What is GW?

An asset representing the FEBs arising from the main assets acquired in a business combination
An asset representing the FEBs arising from the liabilities acquired in a business combination
An asset representing the FEBs arising from other assets acquired in a business combination that are not individually identified and separately recognised (correct)
An asset representing the FEBs arising from the goodwill acquired in a business combination

What is acquisition date?

The date on which the acquirer obtains control of the acquiree (C) Signup and view all the answers

What is FV?

The value that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (D) Signup and view all the answers

What is GW?

An asset representing the FEBs arising from other assets acquired in a business combination that are not individually identified and separately recognised (D) Signup and view all the answers

What does NZ IFRS 3 provide principles and requirements for?

Recognising and measuring identifiable assets, liabilities, and non-controlling interest in the acquirer's financial statements (D) Signup and view all the answers