When an acquisition of another company occurs, FASB requires disclosing all of the following except:
A)amounts recorded for each major class of assets and liabilities.
B)information concerning contingent consideration including a description of the arrangements and the range of outcomes.
C)results of operations for the current period if both companies had remained separate.
D)A qualitative description of factors that make up the goodwill recognized.

Question

Quizplus · Accepted Answer

FASB requires revenue and earnings of the acquiree since the acquisition date and proforma revenue and earnings had the acquisition occurred at the start of the accounting period, but does not require results of operations for the current period if both companies had remained separate.

When an Acquisition of Another Company Occurs, FASB Requires Disclosing