A Gain on Bargain Purchase Arising in a Business Combination

question 43

True/False

A gain on bargain purchase arising in a business combination does not have any deferred tax implications.

---

Definitions:

Osama Bin Laden

A founder of the pan-Islamic militant organization al-Qaeda, known for the September 11 attacks on the United States.

U.S.S. Cole

An Arleigh Burke-class Aegis-equipped guided missile destroyer in the United States Navy, famously attacked in October 2000 by terrorists while harbored in Yemen.

Presidential Election

A process by which citizens of a country or members of an electoral college vote to elect the president of the country.

Texas

The second largest state in the United States by both area and population, known for its significant cultural, historical, and economic contributions to the nation, including its oil industry and diverse landscapes.