A business combination is accounted for appropriately as a purchase. Which of the following should be deducted in determining the combined corporation’s net income for the current period?
|
Direct costs of acquisition |
General expenses related to acquisition |
|
|
a. |
Yes |
No |
|
b. |
Yes |
Yes |
|
c. |
No |
Yes |
|
d. |
No |
No |