Which of the Following Is Not a True Statement Regarding

question 51

Multiple Choice

Which of the following is not a true statement regarding SFAS No. 94?

• A)SFAS No. 94 rejected the exclusionary arguments of ARB 51 and ARB 43.
• B)SFAS No. 94 requires all majority-owned companies to be consolidated except when control is only temporary or if the majority owner does not have effective control.
• C)SFAS No. 94 says that neither legal reorganization nor bankruptcy is an instance of non-control by a majority owner.
• D)There is some evidence that the FASB was attempting to "level the playing field" in SFAS No. 94 by requiring companies to provide more information to financial statement users who might not have been aware of debt levels carried by unconsolidated subsidiaries.

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Definitions:

Prejudice

Preconceived opinion that is not based on reason or actual experience.

Segregation

The enforced separation of different racial groups in a country, community, or establishment.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience.

Nonconformity

The refusal to align one's actions or beliefs with prevailing norms or standards.