The Objectives of FASB 141R (Business Combinations) and FASB 160

question 13

Multiple Choice

The objectives of FASB 141R (Business Combinations) and FASB 160 (Noncontrolling Interests in Consolidated Financial Statements) are as follows:

• A) to improve the relevance, comparability, and transparency of financial information related to business combinations.
• B) to eliminate the amortization of Goodwill.
• C) to facilitate the convergence project of the FASB and the International Accounting Standards Board.
• D) to improve the relevance, comparability, and transparency of financial information related to business combinations and to eliminate the amortization of Goodwill.

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Definitions:

Reference Checks

The process of contacting previous employers, colleagues, or other sources to verify the qualifications, experience, and reliability of a job candidate.

Staffing

The process of hiring, placing, and overseeing employees in an organization to ensure effective use of human resources.

People-centered

An approach or strategy that prioritizes the well-being, development, and involvement of individuals within an organization or society.

Jeffrey Pfeffer

A renowned professor of organizational behavior known for his extensive research and contributions in the fields of business management and human resources.