You are required to research and answer the following three questions. Your answer to each question must be written on a separate sheet(s). The indicative word limit for each question is approximately 200-300 words.
1. Define and explain the meaning of ‘control' in the context of business combinations.
2. Explain the importance of determining the acquirer and acquisition date in accounting for business combinations
3. Briefly define and explain for adjusting journals for unrealised profit on closing and opening inventory.