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| Lebow Corp. acquired control of Wilson Corp. by purchasing stock in steps. Which of the following regarding this type of acquisition is true? A. The cost of acquisition equals the amount paid for the previously held shares plus the fair value of shares issued at the date of acquisition. B. The previously held shares should be remeasured at fair value on the acquisition date, and any gain on previously held shares should be included in other comprehensive income for the period. C. The previously held shares should be remeasured at fair value on the acquisition date and the gain recognized in earnings of the period. D. The acquisition cost includes only the newly issued shares measured at fair value on the date of acquisition. |
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