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Excerpt from ASC Master Glossary
business combination: A transaction or other event in which an acquirer obtains control of one or more businesses.
Excerpt from ASC 805-10-25-1
An entity shall determine whether a transaction or other event is a business combination by applying the definition in this Subtopic, which requires that the assets acquired and liabilities assumed constitute a business. If the assets acquired are not a business, the reporting entity shall account for the transaction or other event as an asset acquisition.
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