When a Primary Beneficiary's Consolidation of a Variable Interest Entity

question 38

Multiple Choice

When a primary beneficiary's consolidation of a variable interest entity (VIE) is appropriate,the amounts of the VIE to be consolidated are:
I.Book values for assets and liabilities transferred by the primary beneficiary.
II.Fair values when the primary beneficiary relationship became established.

• A)I
• B)II
• C)Both I and II
• D)Neither I nor II

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Definitions:

Entman And Rojecki

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