Which statement is false concerning a bargain purchase with noncontrolling ineterest at date of acquisition?

Which statement is false concerning a bargain purchase with noncontrolling interest, at the date of acquisition.





A. The noncontrolling interest is reportated at its fair value


B. The investment balance is reported at acquisition cost


C. Teh subsidiary's identifiable intangible assets are revalued to fair value.


D. The subsidiary's tangiblen net assets are revalued to fair value.|||Which statement is FALSE concerning a bargain purchase with noncontrolling interest, at the date of acquisition.


B. The investment balance is reported at acquisition cost





When acquiring a subsidiary with an acquisition cost that is less than the fair value of 100% of the underlying assets acquired, adjust all balance sheet accounts to fair value and allocate remaining acquisition costs to the fair value of 100% of identifiable intangible assets. This creates a negative balance in the acquisition cost account, which is allocated to gain. The investment balance will be higher than the purchase price.|||E. I'm cheating on my take-home midterm.