Main Question Set 15 Which of the following statements regarding the accounting for business combinations is false? Review Later The acquirer in a business combination will only recognize the liabilities assumed if they meet the definition of liabilities and are part of the business combination transaction. Under the acquisition method, the identifiable assets acquired during a business combination are measured at their acquisition- date fair values. Goodwill is the difference between the consideration transferred by the acquirer to the acquiree and the fair value of identifiable assets acquired. The identifiable assets acquired, liabilities assumed, and noncontrolling interest in the acquiree are recognized separately from the goodwill arising out of a business combination. Page 15 of 16 Prev Page Next Page