With Regard to a Variable Interest Entity (VIE),Ann Company May

question 49

Multiple Choice

With regard to a variable interest entity (VIE) ,Ann Company may meet the following two conditions: Condition I
Ann Company has the power to direct VIE activities that significantly impact VIE's economic performance.
Condition II
Ann Company has an obligation to absorb losses and/or a right to receive significant benefits from the VIE.
Ann Company must consolidate a VIE if

• A)Condition I is met only.
• B)Condition II is met only.
• C)either Condition I or Condition II is met.
• D)both Condition I and Condition II are met.

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Definitions:

Cardio-Vascular Diseases

A class of diseases that involve the heart or blood vessels, including coronary artery disease, hypertension, and stroke.

Fried Foods Tax

A hypothetical or proposed tax imposed on products with high levels of fried content to discourage consumption and address health concerns.

Value-Added Tax (VAT)

A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

Income Tax

A government levy on individuals' or corporations' earnings.