3. At the time of amalgamation, purchase consideration does not include (a) The sum which the transferee company will directly pay to the creditors of the transferor company (b) Payments made in the form of assets by the transferee company to the shareholders of the transferor company (c) Preference shares issued by the transferee company to the preference shareholders of the transferor company As per AS 14, purchase consideration is the amount agreed payable to (a) Shareholders (b) Shareholders, debenture holders and creditors (c) Shareholders and debenture holders 5 If expenses of liquidation of the vendor company are paid by the purchasing company then, in purchasing company's book, the account debited is (a) Goodwill account. (b) Liquidation expense account. (c) Vendor company account. 6. Amalgamation adjustment reserve is opened in the books of the amalgamated company to incorporate (a) Assets of the amalgamating company (b) Non- Statutory reserves of the amalgamating company (c) Statutory reserves of the amalgamating company 7. Amalgamation Adjustment Reserve is presented in the financial statements of the transferee company as (a) Other current asset. (b) Separate line item with a negative sign under the head 'Reserves and Surplus'. (c) Other non-current assets.