Which of the Following Statements Is Incorrect with Regards to the Acquisition

Which of the following statements is incorrect with regards to the acquisition analysis?

A) It is considered the first step in the consolidation process.
B) It calculates and compares the fair value of the consideration transferred with the fair value of the net identifiable assets and liabilities acquired.
C) It calculates the fair value of the net identifiable assets and liabilities acquired based on the value of the post-acquisition equity in the subsidiary.
D) It determines whether there is a goodwill on acquisition or a gain on bargain purchase.