What Are Special Purpose Entities (SPEs)

question 6

Multiple Choice

What are special purpose entities (SPEs) ?

• A)Fictitious organizations formed in order to perpetrate a financial statement fraud.
• B)Business interests formed solely in order to accomplish some specific task or tasks.
• C)Bodies formed to establish audit reporting standards and rules.
• D)Independent audit boards set up to ensure that the financial statements are verified.

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