For Financial Reasons,two Not-For-Profit Hospice Organizations (Hospices a and B)decided

question 59

Multiple Choice

For financial reasons,two not-for-profit hospice organizations (hospices A and B) decided to combine. As a result of the combination,the assets and liabilities of the combined hospice were reported at the amounts that had been previously reported by A and B on their financial statements.Under the FASB,the combining of hospices A and B would be classified as which of the following?

• A) Merger.
• B) Consolidation.
• C) Acquisition.
• D) Component unit.

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Definitions:

Intellectual Challenges

Situations or problems that require considerable cognitive effort and creativity to solve, often encountered in academic and professional contexts.

Policy-related Activity

Activities that are directly linked to the development, enactment, or evaluation of policies, often within a government or organizational context.

Exacerbate

refers to making a problem, bad situation, or negative feeling worse.

Empowering

Giving individuals or groups the authority or power to make important decisions and control over their lives or work.