In the second case,the FASB argued that placement of assets in an irrevocable trust by a debtor also results in a transaction or event that satisfies the debtor's obligation because no future sacrifices of economic benefits are likely to occur. Thus,both the assets placed in trust and the liability should be removed from the debtor's accounting records. An extraordinary gain or loss would be recorded when the cost of the assets placed in trust is less than or greater than the book value of the liability.Additionally,the FASB established specific requirement about the nature of the assets held in trust to help ensure against the future sacrifice of economic benefits. These requirements include: