According to the G

Which of the following statements is true with respect to the accounting for business combinations under US GAAP?

a) Incomparability of FS under the previous rules permitting purchase and pooling methods was corrected by making amortization of goodwill optional b) under the current standards, impairment of goodwill is not accounted for because it does not affect the actual profit of the company c) the acquired business should be recognized at its fair value on the acquisition date, regardless of whether the acquirer purchases all or only a controlling percentage d) any goodwill acquired in previous acquisitions should continue to be amortized after the year 2001 for the continuity of the accounting practice

A sole proprietorship is a popular form of business because

A. it is heavily regulated by the government. B. it is taxed more than other forms. C. it is hard to dissolve. D. the proprietor does not have direct control. E. it is easy to form.