The GAAP defines the accounting concept of a business combination as a transaction or other event in which an acquirer obtains control of one or more businesses.

Name: The GAAP defines the accounting concept of a business combination as a transaction or other event in which an acquirer obtains control of one or more businesses.
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This is a correct definition of a business combination according to the Generally Accepted Accounting Principles (GAAP).

The GAAP Defines the Accounting Concept of a Business Combination