What is a database and what is its purpose?
What will be an ideal response?
A database is a structured collection of related data stored on a computer medium. The purpose of a database is to organize the data in a way that facilitates straightforward access to the information captured in the data.
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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
As baby boomers reach their peak earning and spending years, they become lucrative markets for financial services, travel, and entertainment
Indicate whether the statement is true or false