Business combinations project moves on

Multiple-choice questions. In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

  1. What is the new name for the goodwill and impairment project?

  2. What is the current status of the project?

  3. Which, if any, of the following statements are true? Statement 1, there will be a potential exemption from the disclosure of information, or statement 2, additional disclosures are proposed for all new strategic acquisitions

  4. Which of these is identified as a problem associated with goodwill impairment?

  5. Which of the following items is true?

  6. What is a tentative proposal regarding disclosures relating to goodwill?

  7. Which of the following will need to be disclosed under the proposals?

  8. Which of these is proposed in terms of the value in use calculation? Proposal 1, the requirement to exclude uncommitted future items will be removed, or proposal 2, the cashflows should generally not exceed five years

  9. Which of the following items does not currently need an annual impairment review?

  10. Which, if any, of the following statements is correct? Statement 1, an asset is impaired if its carrying amount exceeds its recoverable amount, or statement 2, the recoverable amount of an asset is the lower of value in use and fair value less costs to sell

1 Unit