The FASB Specified in Statement No

question 57

Multiple Choice

The FASB specified in Statement No.140 three conditions that must be met if a transfer of receivables is to accounted for as a sale.Which of the following is not one of the three conditions specified?

• A) The transferred assets have been isolated from the transferor.
• B) The transferor's obligation under the recourse provisions can be reasonably estimated.
• C) The transferee has the right to pledge or exchange the transferred assets.
• D) The transferor does not maintain effective control over the assets through an agreement to repurchase the assets before their maturity.

---

Definitions:

Psychosomatic

Psychosomatic refers to a physical illness or condition that is caused or aggravated by a mental factor such as internal conflict or stress.

Deepest Stage

Refers to the most profound stage of sleep, typically associated with stage 3 and 4 of non-REM (Rapid Eye Movement) sleep, characterized by delta waves and the hardest to wake from.

Stage 4 Sleep

The deepest stage of the sleep cycle, characterized by slow-wave sleep and where the body recovers and growth hormones are released.

REM Sleep

Rapid Eye Movement sleep, a unique phase of sleep characterized by vivid dreaming, increased brain activity, and temporary paralysis of major voluntary muscles.