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3. In a business combination accounted for as an acquisition, how should the excess of fair value of identifiable net assets acquired over implied value
3. In a business combination accounted for as an acquisition, how should the excess of fair value of identifiable net assets acquired over implied value be treated?
a) Amortized as a credit to income over a period not to exceed forty years.
b) Amortized as a charge to expense over a period not to exceed forty years.
c) Amortized directly to retained earnings over a period not to exceed forty years.
d) Recognized as an ordinary gain in the year of acquisition.
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