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Which one of the following statements is correct according to IFRS 3 Business Combinations? The acquisition date in a business combination is the date on

Which one of the following statements is correct according to IFRS 3 Business Combinations?

The acquisition date in a business combination is the date on which the acquirer transfers purchase consideration.

On consolidation, contingent liabilities of the subsidiary (which have previously only been disclosed in the notes to the financial statements) are recognised at their fair value

Contingent consideration should not be included in the calculation of goodwill

Negative goodwill is recognised in the statement of financial position as a negative asset.

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