Which of the following will most likely be exempt from the need to evaluate whether variable interest entity consolidation is required?

a. The reporting entity has a relationship with a legal entity that does not meet the definition of a business.
b. The reporting entity has a relationship with a legal entity that meets the definition of a business.
c. The reporting entity has a relationship with an entity that is not capable of being managed for the purpose of providing a return directly to investors.
d. The reporting entity has a relationship with a legal entity that does not have inputs and processes capable of producing outputs.