Which of the following statements is not true in relation to joint control?
A) each party must have an equal interest for joint control to exist
B) joint control exists only where there is contractually agreed sharing of control
C) entities over which a party has joint control are accounted for in accordance with IFRS 11 Joint Arrangements
D) joint control requires the unanimous consent of the parties sharing control

Question

Quizplus · Accepted Answer

Joint control does not require each party to have an equal interest; it requires a contractually agreed sharing of control and unanimous consent for decision-making among the parties.

Which of the Following Statements Is Not True in Relation