Under SFAS 141R, what value of the assets and liabilities is reflected in the financial statements on the acquisition date of a business combination?
A) Carrying value
B) Fair value
C) Book value
D) Average value

Question

Quizplus · Accepted Answer

Under SFAS 141R (now codified in ASC 805), the assets acquired and liabilities assumed in a business combination are recorded at their fair value on the acquisition date.

Under SFAS 141R, What Value of the Assets and Liabilities