Question

5. Accounting standard (AS) 14 not distinguish between
amalgamation and absorption.
6. Absorption is said to take place when an existing company
takes over one or more existing companies.
7. On amalgamation, payment to creditors do not form part
Purchase of Consideration.
8. External reconstruction is more or less same as that of
amalgamation in the nature of purchase.
Under net assets method, accumulated profits should not
form part of liabilities.
10. Amalgamation of companies is governed by AŞ 13.​

Answer 1

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