A branch that maintains a general ledger is said to use a(n) accounting system?

All of the above

Centralized
Decentralized
Authoritarian
A debit to the Income Summary ledger account and a credit to the Home Office
account appear in:

The accounting records of the Home office to record the net income of the
home office.
Some other manner.
The accounting records of the branch to record the net income of the branch.
The accounting records of the Home office to record the net income of the
branch.
If both the home office and the branch of a business enterprise use the perpetual
inventory system, a Shipment to Branch ledger account appears in the
accounting records of:

The branch only

Neither the home office nor the branch
The home office only
Both the home office and the branch
1. Entity A obtained control of Entity B in a business combination. When
computing for goodwill, Entity A would least likely account for which of the
following?

Entity B’s research and development projects that were already charged as
expenses, but have a fair value as at the acquisition date.
Entity B’s unrecorded identifiable intangible assets
Operating lease between Entity A and Entity B, wherein Entity B is the lessee.
Entity A’s expected costs of exiting or terminating some or all of Entity B’s
activities after the combination.
1. Restructuring provisions

Are generally not recognized as part of business combination unless the

acquiree has, at the acquisition date, an existing liability for restructuring that
has been recognized in accordance with PAS 37
 That do not meet the definition of a liability at the acquisition date are
recognized as post-combination expenses of the combined entity when the
costs are incurred
Generally increases goodwill
Are generally not recognized as part of business combination unless the
acquiree has, at the acquisition date, an existing liability for restructuring that
has been recognized in accordance with PAS 37 and do not meet the definition
of a liability at the acquisition date are recognized as post-combination
expenses of the combined entity when the costs are incurred
2. The entity that obtains control over another business in a business
combination called the

Controller
Acquiree
Acquirer
Controllee
2. The identifiable assets acquired and liabilities assumed in a business
combination are generally measured at

Acquisition-date fair values

Previous carrying amounts
Fair value less cost to sell
Cost
3. A gain on a bargain purchase is

Recognized in profit or loss in the year of acquisition

Amortized in profit or loss over the lower of its legal life and estimated useful
life
Recognized in profit or loss in the year of acquisition but only after
reassessment of the assets acquired and liabilities assumed in the business
combination
None of the above
3. This distinguishes a business combination from other types of investment
transactions.

Obtaining of control
Acquisition of assets
All of these
Acquisition of stocks