When an acquisition of another company occurs, FASB requires disclosing all of the following except:
A)amounts recorded for each major class of assets and liabilities.
B)information concerning contingent consideration including a description of the arrangements and the range of outcomes.
C)results of operations for the current period if both companies had remained separate.
D)a qualitative description of factors that make up the goodwill recognized.

Question

When an acquisition of another company occurs, FASB requires disclosing all of the following except:​
A)​amounts recorded for each major class of assets and liabilities.
B)​information concerning contingent consideration including a description of the arrangements and the range of outcomes.
C)​results of operations for the current period if both companies had remained separate.
D)​a qualitative description of factors that make up the goodwill recognized.

Quizplus · Accepted Answer

FASB does require disclosure of amounts recorded for major assets and liabilities, information on contingent consideration, and a qualitative description of goodwill. However, it does not require disclosure of results of operations for the current period if the companies had remained separate.

When an Acquisition of Another Company Occurs, FASB Requires Disclosing