All of the following statements accurately describe Special Purpose Entities (SPEs) except for:
A. Among other things, SPEs are used for asset securitization, risk sharing and taking advantage of tax statues.
B. SPEs are corporations, trusts or partnerships created for a single specified purpose.
C. A variable interest entity (VIE) is a type of SPE with a limited number of equity investors.
D. SPEs usually have no substantive operations and are often used for financing operations.
Answer: C
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