Question

In: Accounting

Match the descriptions/use to the most appropriate terms that follow: 1. _____Used widely to estimate fair...

Match the descriptions/use to the most appropriate terms that follow:

1. _____Used widely to estimate fair values for many tangible assets acquired in business combinations. Estimates fair values by reference to the current price of replacing an asset with one of comparable utility.

2. ____Acquiring companies totals give a true representation of consolidation figures.

3._____It is easy to apply and often reflects cash flows from the subsidiary.

4. _____Pharmaceutical and high-tech industries have allocated significant portions of acquired business to this particular financial statement account.

5. ______The fair value of many liabilities assumed can be determined by reference to trades for similar debt

A. Goodwill Impairment

B. Market Approach

C. FASB ASC Topics 810

D. FASB ASC Topic 350

E. Equity Method

F. Cost Approach

G. Income Approach

H. Acquired In-Process Research and Development

I. Initial Value Method

J. Partial Equity Method

K. Goodwill

L. Gain on Bargain Purchase

Expert Solution

1. _ Cost Approach (F)____Used widely to estimate fair values for many tangible assets acquired in business combinations. Estimates fair values by reference to the current price of replacing an asset with one of comparable utility.

2. Goodwill(K)__Acquiring company’s totals give a true representation of consolidation figures.

3._ Income Approach (G)____It is easy to apply and often reflects cash flows from the subsidiary.

4. Acquired In-Process Research and Development

(H)___Pharmaceutical and high-tech industries have allocated significant portions of acquired business to this particular financial statement account.

5. Market Approach (B)____The fair value of many liabilities assumed can be determined by reference to trades for similar debt

1. _ Cost Approach (F)____Used widely to estimate fair values for many tangible assets acquired in business combinations. Estimates fair values by reference to the current price of replacing an asset with one of comparable utility.

2. Goodwill(K)__Acquiring company’s totals give a true representation of consolidation figures.

3._ Income Approach (G)____It is easy to apply and often reflects cash flows from the subsidiary.

4. Acquired In-Process Research and Development

(H)___Pharmaceutical and high-tech industries have allocated significant portions of acquired business to this particular financial statement account.

5. Market Approach (B)____The fair value of many liabilities assumed can be determined by reference to trades for similar debt

ekkarill92 answered 2 years ago

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