Question: Which of the following statement about off-balance sheet (OBS) financing is not correct? Group of answer choices No liabilities need to be recorded for certain

Which of the following statement about off-balance sheet (OBS) financing is not correct? Group of answer choices No liabilities need to be recorded for certain joint venture or partnership With more assets and no liabilities associated, the debt to asset ratio becomes more favorable The revenue from a new joint venture is now part of the revenue and therefore increasing its net operating income Like any red flag in accounting and finance, it is illegal, even if proper parameters are followed

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