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What do business combinations mean?

If a subsidiary company is acquired part of the way through an accounting period, the group's share of the subsidiary's pre-acquisition profit is included in the statement of comprehensive income for the period. True or False?

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Question added by Deleted user
Date Posted: 2013/09/03
asi ngoh
by asi ngoh , auditor , management consulting audit

business combination is a situation when2 firms merge to form one. it can be an equal merger or a take over.

however, in consolidation the answere is false as only the post aquisition reserve are taken into consideration

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