AASB 3 specifically does not apply to which of the following?
A)the acquisition of an asset or group of activities that does not constitute a business
B)the acquisition of an asset or group of activities that constitutes a business
C)a transaction or other event in which an acquirer obtains control of one or more businesses
D)all of the above

Question

Quizplus · Accepted Answer

AASB 3 specifically does not apply to the acquisition of an asset or group of activities that does not constitute a business, as stated in paragraph 2 of the standard. Therefore, option A is the correct answer. Option B is incorrect because AASB 3 applies to the acquisition of an asset or group of activities that constitutes a business. Option C is also incorrect because it describes a scenario that falls within the scope of AASB 3. Option D is incorrect because it includes all options, whereas only option A is correct.

AASB 3 Specifically Does Not Apply to Which of the Following