Corporate Accounting II QUIZ 2

For amalgamation in the nature of merger, the shareholders holding at least ______ or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company.

• 51%

• 90%

• 99%

• 100%

Pooling of interest method is used to account for Amalgamation is the nature of

• Purchase

• Sale

• Merger

• None of the above

Accounting standard for Amalgamation is

• AS-8

• AS-14

• AS-20

• AS-3

Expenses of liquidation of Transferor company may be shown as Reimbursement in Transferor company's books,if the expenses are agreed to be paid by

• Transferor company

• Transferee company

• Both the companies

• Neither company

Excess purchase consideration paid to the transferor company and debited to goodwill account under the purchase method of accounting for Amalgamation should be written off within a period of

• 2 years

• 8 years

• 5 years

• 20 years