In a business combination, the sum of the amounts assigned by the acquiring entity to assets acquired and liabilities incurred and assumed exceeds the consideration paid for the acquired entity. The excess should be reported as a

• A.Reduction of the amounts assigned to current assets and a deferred credit for any unallocated portion.

• B.Gain immediately in the income statement.

• C.Pro rata reduction of the amounts assigned to all acquired assets and a gain for any unallocated portion.

• D.Deferred credit.