The FASB Specified in Statement No

question 57

Multiple Choice

The FASB specified in Statement No.140 three conditions that must be met if a transfer of receivables is to accounted for as a sale.Which of the following is not one of the three conditions specified?

• A) The transferred assets have been isolated from the transferor.
• B) The transferor's obligation under the recourse provisions can be reasonably estimated.
• C) The transferee has the right to pledge or exchange the transferred assets.
• D) The transferor does not maintain effective control over the assets through an agreement to repurchase the assets before their maturity.

---

Definitions:

Open-Ended

Questions or statements that allow for a wide range of responses, encouraging more detailed and thoughtful answers.

Academic Journals

Scholarly publications that contain articles, research findings, and reviews in specific academic fields.

Trade Journals

Trade journals are publications targeted at professionals in a specific industry, providing news, research, and information relevant to that field.

General-Purpose Search Engines

Online tools designed to search for information on the World Wide Web, covering a wide range of topics and services.