According to the Most Current FASB Standards,intangible Assets Acquired in a Basket

question 79

Multiple Choice

According to the most current FASB standards,intangible assets acquired in a basket purchase which represents the acquisition of an entire business should be

• A) valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being recognized as goodwill.
• B) valued by allocating the total purchase price according to the relative fair values only of intangible assets that are separately tradable or contract based.
• C) valued by allocating the total purchase price according to the relative fair values of all assets acquired,regardless of whether the assets are separately tradable or contract based.
• D) valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being expensed in the year of acquisition.

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