Prior to FAS 133,where on the financial statements were derivatives reported?
A)as contingent liabilities
B)as goodwill
C)as intangible assets
D)nowhere because they were off-balance sheet items
E)in Other Comprehensive Income

Question

Quizplus · Accepted Answer

Prior to FAS 133, derivatives were often considered off-balance sheet items and not reported on the financial statements.

Prior to FAS 133,where on the Financial Statements Were Derivatives