In a Business Combination That Is Accounted for Under the Acquisition

question 39

Multiple Choice

In a business combination that is accounted for under the acquisition method, the entity that obtains control over one or more businesses and establishes the acquisition date that control was achieved is called the

• A) Controller.
• B) Acquirer.
• C) Proprietor.
• D) Controlling interest.

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Definitions:

RUPA

The Revised Uniform Partnership Act, which governs the operation of partnerships in the jurisdictions that have adopted it.

Disproportionate

Lacking symmetry, balance, or proportion; notably unequal or uneven in distribution or adjustment.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and obligations of each partner in a business partnership.

Partnership Property

Assets or property owned by a partnership, which are used in the operation of the business and subject to the rights and interests of the partners.