In a business combination in which an acquiring company purchases 100 percent of the outstanding common stock of another company, if the fair value of the net identifiable assets acquired exceeds the fair value of the consideration given. The excess should be reported as a

a. Deferred credit.

b. Reduction of the values assigned to current assets and a deferred credit for any unallocated portion.

c. Pro rata reduction of the values assigned to current and noncurrent assets and a deferred credit for any unallocated portion.

d. No answer listed is correct.