Which of the following is not part of the new Financial Accounting Standards Board and the Securities and Exchange Commission's rules regarding off balance sheet transactions

Question

ObjectiveMcq · Accepted Answer

all off balance sheet transactions must stop effective January 1, 2004.

ObjectiveMcq · Answer

the benefits of off balance sheet transactions must be reported.

ObjectiveMcq · Answer

companies are required to tell investors about the nature and purpose of off balance sheet transactions.

ObjectiveMcq · Answer

companies must add transactions to their balance sheet when they strand to absorb a majority of the expected benefits or losses from the bulk of expected returns.