Off-Balance-Sheet Activities Are

question 38

Multiple Choice

Off-balance-sheet activities are:

• A)not shown on the current balance sheet
• B)not shown on the balance sheet but after the completion of the financial year are recorded on the balance sheet
• C)not shown on the current balance sheet but are an off-balance-sheet asset/liability, if when a contingent event occurs, the activity moves onto the asset/liability side of the balance sheet
• D)contingent events which move the asset or liability from the balance sheet to off balance sheet

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