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:

Centralized Selection

A recruitment approach where the hiring decisions are made by a central body or in a single location, rather than by decentralized units or managers.

Legal Compliance

the process of ensuring that an organization's practices, operations, and procedures adhere to relevant laws, regulations, and guidelines.

Standardized Tests

Tests administered and scored in a consistent manner, designed to measure proficiency in specific areas across different individuals.

Build for Within

A strategy focused on developing and promoting talent internally, rather than recruiting from outside the organization.