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statuscvo [17]
3 years ago
15

For business combinations involving less than 100 percent ownership, the acquirer recognizes and measures all of the following a

t the acquisition date except: Multiple Choice
a. Identifiable assets acquired, at fair value.
b. Liabilities assumed, at book value.
c. Non-controlling interest, at fair value.
d. Goodwill or a gain from bargain purchase.
Business
1 answer:
Mariana [72]3 years ago
3 0

Answer:

b. Liabilities assumed, at book value.

Explanation:

International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) require everything (Assets, Liabilities and Non-controlling interest) to be measured at the fair market value, the amount a third-party would pay on the open market, at the time of acquisition — the date that the acquirer took control of the target company.

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Haft Construction Company determines that 54,000 pounds of direct materials are needed for production in July. There are 3,200 p
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Answer:

cost of direct materials purchases   160,800

Explanation:

pounds required for production      54,000

desired ending inventory                    2,800

total needs                                         56,800

beginning inventory                           (3,200)

units to be purchased                        53,600

cost per unit of direct materials                  3

cost of direct materials purchases   160,800

<u>Notes:</u>

The pounds for production and the ending inventory are the raw materials demand.

The beginning inventory is a portion we already have, so we need to purchase less.

Then, we multiply the pounds to be purchased by their cost to get the total cost for direct materials

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Sandy earned a salary of $50,000 last year. Her parents gave her a car valued at $23,000 for her birthday. In addition, she earn
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Answer:

$51,200

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Gross income computation includes all forms of income such as wages, rents, royalties, dividend etc. However, gifts and inheritances are not considered as a part of the gross income.

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The inheritance of her grandmother's estate and car gift are not included as a part of Sandy's gross income.

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