AASB 3/IFRS 3 is relevant when accounting for a business combination that:

A) involves mutual entities.
B) results in the formation of a joint venture.
C) involves entities or businesses that are not investor owned.
D) results in an entity acquiring the net assets of another entity.

AASB 3

is the Australian Accounting Standards Board's standard on Business Combinations, detailing the accounting treatment for merging businesses, including the recognition and measurement of assets, liabilities, and any non-controlling interest.

IFRS 3

The International Financial Reporting Standard that deals with the accounting for business combinations, requiring assets, liabilities, non-controlling interest, and goodwill to be accounted for at fair value.

Mutual Entities

Organizations owned by their members, profits are distributed among them or used to reduce costs.