Which of the following is NOT part of the definition of control?
A) ability to direct use of the asset
B) ability to obtain substantially all remaining benefits of the asset
C) ability to return the asset to its original owner
D) ability to prevent other companies from directing the use or receiving benefits from assets

Question

Quizplus · Accepted Answer

The ability to return the asset to its original owner is not part of the definition of control. Control refers to the ability to direct the use of the asset, obtain substantially all remaining benefits from the asset, and prevent other companies from directing the use or receiving benefits from the asset.

Which of the Following Is NOT Part of the Definition