Which of the Following Statements About a Bargain Purchase Is

Multiple Choice

Which of the following statements about a bargain purchase is true?

A) It is reported on the financial statements as an "excess of fair value over cost of assets acquired".
B) It is reported as a deferred credit on the financial statements called negative goodwill.
C) Assets and liabilities of the acquired company are reported at net book value.
D) Assets and liabilities of the acquired company are reported at their fair value.