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:

Timely

Pertaining to the occurrence of actions or events at a suitable or opportune moment, ensuring relevance and effectiveness.

Informal Communication

The casual and unstructured manner of exchanging ideas and information typically outside formal communication channels.

Status Differential

The disparity in rank, power, or social standing between individuals or groups within a social hierarchy or organization.

Physical Relaxation

A state of being free from tension and anxiety in the body, often achieved through techniques like deep breathing, meditation, or yoga.