Question: Question 1: (7.5 points): A1, A3 Read the following case and answer the following questions as an accountant for the partnership: Lulu Company (Merchandising company)

Question 1: (7.5 points): A1, A3 Read the following case and

Question 1: (7.5 points): A1, A3 Read the following case and answer the following questions as an accountant for the partnership: Lulu Company (Merchandising company) decided to purchase 100% of Raya company (Real estate company) at the beginning of 2019, both companies are agreed on creating a new company called LR company for real estate and general trading furthermore they agreed on that using the FMV for any exchanging transactions. Questions: 1- What is the Acquisition Method of Accounting used for the Business Combinations? (2.5 Points) 2- What is the method of the business combinations used? Why? (2.5 Points) 3- Which type of Business Combinations followed in the above case? Why? (2.5 Points)

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