(4) In a business combination, the acquirer is the party that:

a. sells the acquired entity.

b. obtains control of the other entities.

c. receives the acquisition consideration.

d. concedes control over the acquired entities.

(5) Goodwill is distinguished from other intangible assets due to which of the following characteristic?

a. monetary nature.

b. physical substance.

c. identifiability.

d. separability.

(6) The original and planned investigation undertaken with the prospect of gaining new knowledge is described as:

a. research.

b. exploration.

c. development.

d. investigation.

(7) The two most common valuation measures used in Accounting Standards are:

a. Fair value less costs to sell and carrying amount.

b. Net realisable value and fair value.

c. Value in use and net realisable value.

d. Cost and fair value.