The line-by-line method of accounting,according to AASB 11,is required for interests in joint ventures that are:
A) jointly controlled entities.
B) jointly controlled operations.
C) jointly controlled assets.
D) both B and C.

Question

Quizplus · Accepted Answer

The line-by-line method of accounting is required for interests in joint ventures that are both jointly controlled operations and jointly controlled assets, according to AASB 11. Jointly controlled entities are accounted for using the equity method.

The Line-By-Line Method of Accounting,according to AASB 11,is Required for Interests