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:

Phosphate

Phosphate is an inorganic chemical and a salt of phosphoric acid, playing vital roles in biological molecules like DNA and ATP.

Zona Glomerulosa

Outer layer of the adrenal cortex that secretes aldosterone.

Mineralocorticoids

A class of corticosteroids that are involved in the regulation of electrolyte and water balance, primarily affecting the kidneys.

Glucocorticoids

A class of steroid hormones that play a role in regulating glucose metabolism, immune response, and stress.