SFAS 141R requires that all business combinations be accounted for using:
A) the pooling of interests method.
B) the acquisition method.
C) either the acquisition or the pooling of interests methods.
D) neither the acquisition nor the pooling of interests methods.

Question

Quizplus · Accepted Answer

SFAS 141R (Statement of Financial Accounting Standards No. 141, revised), which has been superseded by ASC Topic 805, required that all business combinations be accounted for using the acquisition method. This standard eliminated the pooling of interests method for business combinations.

SFAS 141R Requires That All Business Combinations Be Accounted for Using