Based on this information, as a result of the difference between reporting Spears plant assets on the books versus tax return, each year for the next 25 years Peer will:

	A.	Debit deferred tax assets $3 million
	B.	Credit deferred tax assets $50,000
	C.	Debit deferred tax liabilities $50,000
	D.	Credit deferred tax liabilities $1.25 million

American Company acquired all of the assets and liabilities of Braziian Company. Brazialian Company has research and development projects in process, which have not yet been completed. How does American Company report Brazialians in-process research and development?

	A.	As an indefinite life intangible asset, at fair value
	B.	As a limited life intangible asset, at fair value
	C.	As part of goodwill
	D.	It is not reported

Which one of the following items increases the amount of goodwill recognized in an acquisition?

	A.	Payments offered to employees of the acquired company that are based on their future performance
	B.	Consulting fees paid to Goldman Sachs
	C.	Registration fees the acquiring company pays to issue new stock in an acquisition
	D.	An earnout added to an acquisition agreement to motivate the acquired companys shareholders to sell