1. Which of the following is not considered in the determination of Total Assets after business combination?

Group of answer choices

Expenses that are actually paid in relation to business combination

Fair value of the acquirees total assets.

Contingent consideration

Book value of the acquirers total assets.

2. Statement 1: The estimated liability on contingent consideration is based on provisional amount subject to measurement period adjustment.

Statement 2: The additional paid in capital on contingent consideration is based on provisional amount not subject to measurement period adjustment.

Group of answer choices

Both statements are correct

Only statement 1 is correct.

Both statements are incorrect.

Only statement 2 is correct.

3. Statement 1: Measurement period is relevant if Fair Value of Net Assets of acquiree includes the recognition of contingent asset, contingent liability and assets/liabilities with provisional amounts.

Statement 2: Measurement period is relevant for the remeasurement of all contingent considerations.

Group of answer choices

Only statement 1 is correct.

Both statements are correct.

Only statement 2 is correct.

Both statements are incorrect.