On May 1, 2022 Argo Company, acquired Innovations Corporation, an IT firm. Innovations is in the early stages of developing a new innovative product that uses facial recognition for verification of taxpayer identity. Innovations has recently acquired highly skilled former employees of both: Google and Amazon. These employees are considered to be the experts on facial recognition, and therefore are a critical element of Innovations' workforce. Innovations expects to have a prototype ready by the year 2024. Under ASU, 2017-01,'Business Combinations - Clarifying the Definition of a Business' at what point would Argo be able to refer to Innovations as a business? a. Argo can claim Innovations is a business once the prototype is completed in 2024. b. Argo can claim Innovations is a business on the date of acquisition in 2022. c. The two key employees will need to be hired by Argo, and not Innovations in order for Argo to claim that Innovations is a business. d. Argo must perform its own research \& development in order to conclude it has proper processes, before it can consider Innovations to be a business