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Which of the following does not accurately inform about a variable interest entity (VIE)? Multiple Choice...

Which of the following does not accurately inform about a variable interest entity (VIE)?

Multiple Choice

  • A variable interest entity may take many forms including corporations and partnerships.

  • In pre-codification literature, a variable interest entity was referred to as a Special Purpose Entity.

  • The power to direct the activities of the VIE that most significantly impact the VIE’s eco­nomic performance is the definition of a controlling financial interest.

  • There are 2 criteria for determining if a company has a controlling financial interest in a variable interest entity.

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