Advanced Accounting
Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Chapter 2, Problem 1Q
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Explain the meaning of business combination.

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Answer to Problem 1Q

Business combination is the combination of separate business entities.

Explanation of Solution

Business combination: Business combination refers to the combining of one or more business organizations in a single entity.

The business combination leads to formation of combined financial statements. After business combination, the entities having separate control merges into one having control over all the assets and liabilities. Merging and acquisition are types of business combinations.

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Chapter 2 Solutions

Advanced Accounting

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