TB MC Qu$.06-84$ Which of the following statements regarding...

Which of the following statements regarding consolidation of a Variable Interest Entity with its primary beneficiary is true?

Multiple Choice

Variable Interest Entities with controlling interests must include one hundred percent of the primary beneficiary's net income in a consolidation.

Only intra$-$entity transactions between the primary beneficiary and the Variable Interest Entity resulting from intra$-$entity transfers are eliminated in the consolidation.

All intra$-$entity transactions between the primary beneficiary and the Variable Interest Entity are included in the consolidation.