If the VIE Was Not a Business as Defined by ASC

question 9

True/False

If the VIE was not a business as defined by ASC 819-10-20 which means it is likely a not for profit entity, there is no goodwill recorded.​

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Definitions:

Controlled Processes

Cognitive operations that require attention, are usually performed deliberately, and are under conscious control.

Automatic Processes

Mental activities that occur without conscious awareness or effort, often developed through repeated practice or learning.

Inattentional Blindness

The phenomenon of not perceiving a stimulus that might be literally right in front of you unless you are paying attention to it.

Unexpected Event

An occurrence or incident that deviates from the usual or anticipated course, often triggering surprise or requiring adaptation.