Question
X Corp. has an equity interest in Partnership Y, which owns a natural gas pipeline. Y has suffered unexpected losses in the current year
X Corp. has an equity interest in Partnership Y, which owns a natural gas pipeline. Y has suffered unexpected losses in the current year due to large fluctuations in natural gas prices. To prevent the bankruptcy of Y, X has increased its equity investment. Which section of the Accounting Standards Codification best lists the criteria for reconsidering the initial designation of variable interest entity status?
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Thermodynamics An Engineering Approach
Authors: Yunus A. Cengel, Michael A. Boles
8th edition
73398179, 978-0073398174
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