Business & Professional Ethics 7th Edition by Leonard Brooks,Paul Dunn

Exercise 36

An emerging issue Interpretation Bulletin42 accompanying FAS 140, gives examples indicating Repo 102 transactions would not qualify as sales, but Repo 110 would. Why do you think this Bulletin was issued? See Q A 140-A Guide to Implementation of Statement 140 on Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities at http://www.fasb.org/cs/ContentServer?c= Document_C pagename=FASB%2F Document_C%2FDocumentPage cid= 1175801856780 accessed on March 27, 2011