The one-line method of accounting for interests in jointly controlled entities is appropriate because:
A) venturers have joint control.
B) venturers have control.
C) venturers have significant influence.
D) none of the above.

Question

Quizplus · Accepted Answer

The one-line method is used to account for interests in jointly controlled entities because venturers have joint control over the entity. This means that the venturers share control and decisions regarding the entity and its activities.

The One-Line Method of Accounting for Interests in Jointly Controlled