In Comparing U

question 29

Multiple Choice

In comparing U.S. GAAP and international financial reporting standards (IFRS) with regard to a basis for measurement of a non-controlling interest, which of the following is true?

• A) U.S. GAAP requires acquisition-date fair value measurement and IFRS requires the acquiree's identifiable net asset fair value measurement.
• B) U.S. GAAP and IFRS both require acquisition-date fair value measurement.
• C) U.S. GAAP and IFRS both require the acquiree's identifiable net asset fair value measurement.
• D) U.S. GAAP requires acquisition-date fair value measurement, but IFRS allows an option for acquisition-date fair value measurement.
• E) U.S. GAAP and IFRS both apportion goodwill to the parent only.

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Definitions:

ATP

Adenosine triphosphate, a universal energy currency of cells, used to fuel various cellular processes.

Macronutrient

A type of nutrient required in large amounts for human growth, development and maintenance, including proteins, fats, and carbohydrates.

Amino Acids

Organic compounds that combine to form proteins and serve as the building blocks of life.

Vitamins

Organic compounds that are necessary in small amounts for various bodily functions and must be obtained from the diet since they cannot be synthesized by the body.