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Chapter 2 — Scope

2.3 Application of the Term "Transfer"

2.3 Application of the Term “Transfer”

Footnotes

10
Although Question 35 was superseded upon the issuance of FASB Statement 166, we believe that it contains guidance that is still relevant when an entity transfers noncash financial assets to a trust in a legal defeasance of an outstanding liability.
11
See Section 1.2.6 for further discussion of banker’s acceptances.