8. Determining the correct acquisition date is important as the following is affected by the choice of acquisition date:

Select one:

a. The fair values of net assets acquired.

b. The cost of the legal expenses.

c. The cost of the earnings of management.

d. The present value of the impaired assets.

2. Which one of the following is not an element in calculating value in use in relation to impairment testing?

Select one:

a. Time value of money

b. Price for bearing risk & uncertainty inherent in asset

c. Expectations about possible variations in amount or timing of future cash flows

d. Goodwill acquired in case of purchase of a business

1. Which one of the following options not correct for current exit price in relation to Fair value accounting

Select one:

a. It is the price that would be received to sell an asset or paid to transfer a liability.

b. It is based on the perspective of the holder.

c. It is based on expectations about future cash flows generated by the asset subsequent to its sale.

d. It is the historical value of an asset.