A Federally-Sponsored Program Which Offers Loan Guarantees to Create and Expand

question 33

Multiple Choice

A federally-sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment is called:

• A)the Small Business Administration.
• B)the Economic Development Administration.
• C)SBIC.
• D)the Farmers Home Administration.

Understand the treatment of goodwill and its calculation in business combinations.

Identify the disclosure requirements for business combinations under IFRS 3.

Explain the effects of business combinations on shareholder's equity and consolidated balance sheet.

Describe the impact of fair value adjustments in business combinations.

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Definitions:

Costs Per Unit

The total expense involved in manufacturing or acquiring a product divided by the number of units.

Step-Down Method

An allocation method used in cost accounting to assign overhead costs to products or departments, incorporating inter-departmental services.

Service Department Costs

These are costs associated with departments that do not directly produce goods but provide necessary services to production departments, like maintenance and cleaning.

Geriatric Medicine

A branch of medicine that focuses on health care of elderly people, aiming to promote health and prevent and treat diseases and disabilities in older adults.