美国准则用的是VIE这个名字，VIE要consolidate，但是VIE要满足一定的条件； 国际准则用的是SPE，要求是如果SPE是被母公司控制的，那么就要consolidate。

问题如下：

Confabulated’s special purpose entity is most likely to be:

选项：

held off-balance sheet.

consolidated on Confabulated’s financial statements.

consolidated on Confabulated’s financial statements only if it is a "qualifying SPE."

解释：

B is correct.

Under IFRS, SPEs must be consolidated if they are conducted for the benefit of the sponsoring entity. Further, under IFRS, SPEs cannot be classified as qualifying. Under US GAAP, qualifying SPEs (a classification which has been eliminated) do not have to be consolidated.

考点：SPE的会计处理方法

解析：

IFRS下，如果公司与SPE之间关系的实质表明SPE是由公司控制的，则应合并特殊目的实体。

“Benefits from the SPE's activities.”是表明“控制”的情形之一。即SPE经营活动在实质上是由公司根据其特定经济业务的需要实施的，以便从SPE的经营活动中获取利益。

根据题目条件，SPE是为了Confabulated公司的利益而设立的，因此应当合并。