Question: A business combination is accounted for appropriately as an acquisition. Which of the following should be deducted in determining the combined corporations net income for

A business combination is accounted for appropriately as an acquisition. Which of the following should be deducted in determining the combined corporation’s net income for the current period?

Direct costs General expenses of acquisition related to acquisition

a. Yes No

b. Yes Yes

c. No Yes

d. No No

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