Question
Accounting Standards Codification (ASC) Topic 805 provides standards for reporting acquisition of a business . How does the reporting for the acquisition of a business
Accounting Standards Codification (ASC) Topic 805 provides standards for reporting acquisition of a business. How does the reporting for the acquisition of a business differ from acquisition of a group of assets and liabilities?
a. In the acquisition of a business, the cost may exceed the fair value of the identifiable net assets acquired.
b. In the acquisition of a business, contingent consideration is not included in the measurement of total cost.
c. In the acquisition of a group of assets and liabilities, consulting fees paid to complete the transaction are expensed.
d. In the acquisition of a group of assets and liabilities, previously unreported identifiable intangible assets are likely to be recognized.
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