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 AASB 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 the contractually agreed sharing of control, which may not necessarily be equal.

Which of the Following Statements Is Not True in Relation