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

Multiple Choice

• 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.
• A variable interest entity may take many forms including corporations and partnerships.
• There are 2 criteria for determining if a company has a controlling financial interest in a variable interest entity.
• In pre-codification literature, a variable interest entity was referred to as a Special Purpose Entity