General Studies · Consolidated Financial Statements - IFRS 3
Under IFRS 3 (Business Combinations), where the goodwill calculation results in a negative figure (gain on bargain purchase), what is the correct accounting treatment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Recognize in other comprehensive income
- 2Recognize immediately as income in the statement of profit or loss✓
- 3Recognize as a negative intangible asset
- 4Recognize as a deferred income liability
Correct answer
Recognize immediately as income in the statement of profit or loss
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for General Studies?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Consolidated Financial Statements - IFRS 3 MCQs →Want more practice questions on Consolidated Financial Statements - IFRS 3?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in General Studies · Consolidated Financial Statements - IFRS 3