Derecognition of assets is an important component of the securitisation process. Accounting derecognition is only possible if certain steps are taken. Which of the following would prevent derecognition?

a.

The investors in the special purpose entity could sue the originating entity if certain very specific events occur.

b.

The entity has no further rights over cash flows produced by the assets.

c.

The entity has no control over the special purpose entity the assets are being sold to.

d.

The assets are sold as a clean sale without recourse,

e.

The originating entity has no risk or return relationship with the special purpose entity managing the assets.