In the event of a bargain acquisition (after carefully considering the fair valuation of all subsidiary assets
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In the event of a bargain acquisition (after carefully considering the fair valuation of all subsidiary assets and liabilities), FASB requires the following accounting:
a. an ordinary gain is reported in the financial statements of the consolidated entity.
b. an ordinary loss is reported in the financial statements of the consolidated entity.
c. negative goodwill is reported on the balance sheet.
d. assets are written down to zero value, if needed.
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