Prior to FAS 133, Where on the Financial Statements Were

question 29

Multiple Choice

Prior to FAS 133, where on the financial statements were derivatives reported?

• A) as contingent liabilities
• B) as goodwill
• C) as intangible assets
• D) nowhere because they were off-balance sheet items
• E) in Other Comprehensive Income

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Definitions:

Task Function

An activity directly related to the effective completion of a team’s work.

Harmonizing Conflict

The process of resolving disputes and disagreements in a way that satisfies all parties involved.

Group Behavior

The actions, interactions, and mechanisms of conduct among individuals within a group context.

Undisclosed Principal

A legal term for a situation where an agent acts on behalf of a principal whose identity is kept secret from the third party at the time of the agreement.