CERTYNEX IFRS ACADEMY

Which statements about the acquisition of a group of assets are correct? More than one answer is possible.

IFRS 3 does not apply to the acquisition of an asset or a group of assets that is not a business.

An acquired set is a business when it includes an asset of significant value, even in the absence of processes.

The acquisition of a group of assets that is not a business gives rise to goodwill under IFRS 3.

A business comprises inputs and processes applied to those inputs.

A set that does not yet generate outputs at the acquisition date is not a business.