Which statement about the differences between consolidation methods permitted under ASPE and IFRS is true?

1 -IFRS and ASPE both require the use of the identifiable net assets method.

2 IFRS permits either the fair value enterprise method or the identifiable net assets method; ASPE requires the identifiable net assets method.

3 IFRS permits either the fair value enterprise method or identifiable net assets method; ASPE requires the fair value enterprise method.

4 IFRS and ASPE both require the use of the fair value enterprise method or the identifiable net assets method

Which consolidation method should be used in preparing consolidated financial statements in accordance with IFRS?

1. Either identifiable net assets or fair value enterprise method.
2. New entity method.
3. Parent company method.
4. Proportionate consolidation method.