ACME Co Paid $110,000 for the Net Assets of Comb Corp

question 20

Multiple Choice

ACME Co. paid $110,000 for the net assets of Comb Corp. At the time of the acquisition the following information was available related to Comb's balance sheet: What is the amount of gain or loss on disposal of business should Comb Corp. recognize?

• A)Gain of $60,000
• B)Gain of $60,000.
• C)Loss of $30,000
• D)Loss of $60,000

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Definitions:

Secondary Somatosensory Cortex

A part of the cerebral cortex that processes sensory input from the body, providing information about touch, vibration, and pressure.

Primary Somatosensory Cortex

The primary somatosensory cortex is a region in the brain that processes tactile information from the body, helping to perceive touch, pressure, and pain.

Tertiary Somatosensory Cortex

An area of the brain involved in the integration and interpretation of sensory information from the body.