Question 11 0.5 pts At acquisition date which of the following is not required to be recognised by the acquirer as per AASB 3? Contingent assets of the acquiree Previously held equity interest of the acquiree by the non-controlling interests Liabilities assumed Internally generated intangibles of the acquiree Question 12 0.5 pts Which of the following statements in relation to contingent consideration is incorrect? At acquisition date, contingent consideration is measured at fair value as per AASB 3/IFRS 3 Business combinations Subsequent adjustments to contingent consideration affect the goodwill calculated at acquisition date Changes in the amount of an expected cashflow where the contingent consideration represents a liability that is within the scope of AASB 137/IAS 37 are accounted for through profit and loss Where the contingent consideration is classified as equity, there is no remeasurement required on settlement Question 13 0.5 pts The court ordered that Zoo Limited to be wound up. At the liquidation process, the company had an piece of secured leasehold land which cost $70 000 and had accumulated amortisation of $24 000. Receiver realised the asset for $50 000. There was also an outstanding mortgage payable of $35 000 secured against the leasehold land. The liquidation journal entries are which of the following? Dr. Liquidator's cash $50 000 Dr. Mortgage payable $35 000 Cr. Leasehold land $46 000 Cr. Liquidation $39 000 Dr. Leasehold land $46 000 Dr. Mortgage payable $35 000 Cr. Liquidator's cash $50 000 Cr. Liquidation $31 000 Dr. Mortgage payable $15 000 Dr. Liquidator's cash $35 000 Cr. Leasehold land $46 000 Cr. Liquidation $4 000 Dr. Liquidator's cash $15 000 Dr. Mortgage payable $35 000 Cr. Leasehold land $46 000 Cr. Liquidation $4 000 Question 14 0.5 pts In relation to pre-acquisition of a subsidiary, which of the following events can cause a change in the pre-acquisition entries subsequent to the acquisition date? Transfers to post-acquisition retained earnings. II Depreciation on non-current assets. III Transfers from pre-acquisition retained earnings. IV Bonus dividends paid from pre-acquisition equity. I, II, III and IV III and IV only I, III and IV only Il and Ill only