Which of the Following Was Not True According to the Enron

question 50

Multiple Choice

Which of the following was not true according to the Enron case?

• A) Fastow developed the concept of buying up oil and gas companies to establish SPEs
• B) Fastow worked to structure ventures that met the conditions under GAAP to keep the partnership activities off Enron's books and on the separate books of the partnership
• C) Fastow created SPEs that borrowed money from banks and transferred it to Enron in a sale of an operating asset no longer need by Enron
• D) The SPE created by Fastow enabled Enron to keep debt off its books while benefiting from transfer and use of the cash borrowed by the SPE

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