A business combination is when an acquirer obtains control of one or more businesses. In reality, there are different ways to achieve this objective.

Required:
1. Describe four forms of business combinations by which an acquirer may obtain control of one or more businesses.
2. Explain the differences in forms of business combinations with respect to the following questions:
What is legally acquired in the transaction?
Who is the seller?
What is the legal entity (entities) and what is the economic entity?
Is there a need for consolidation?
Who has control of the economic entity?