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Assume you have been hired to audit Bio Inc. Bio recently acquired another firm in a business combination considered an acquisition. The fair value of

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Assume you have been hired to audit Bio Inc. Bio recently acquired another firm in a business combination considered an acquisition. The fair value of the identifiable net assets exceeds the amount of consideration transferred. Find the authoritative guidance related to how to account for the difference. Enter your response in the answer fields below. Guidance on correctly structuring your response appears above and below the answer fields. Type the topic here. Correctly formatted FASB ASC topics are 3 digits. FASB ASC

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