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I made an error in my net assets list which in turn affected my goodwill computation and resulted in a bargain purchase, remembering now that it was a mistake and it would affect my retained earnings and nci would I fail the question completely
i got 56,000 for net asset
what did you get for net asset?you will only fail the NCI AND THE PARENT RETAINED EARNINGS.
but if you calculated them separately, the examiner would mark it differently and issue you marks for the parent retained earnings and nciAll well, if you look at the top of this thread, you’ll see the heading “Ask the tutor F7 exams”
Now, there’s a strong clue in there that, when understood, will tell you that this thread is designed for the tutor to answer questions.
DOA, how many times can you be punished for making just one error?
The markers are professionals, they’ve typically been markers for many years, and they will recognise that just one mistake will not affect your chances of success out of proportion.
In summary, don’t panic!
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