According to AASB 10/IFRS 10 Consolidated Financial Statements, which of the following factors indicate the existence of control? I. Possessing existing rights that give the current ability to direct the relevant activities.
II) Shared power in the governance of financial and operating policies of another entity so as to obtain benefits.
III) The power to have significant influence over the operating policies of an entity so as to obtain benefits.
IV) Ownership of more than 50% of the voting rights in the subsidiary.
A) I, II and III only
B) I and IV only
C) II and IV only
D) IV only
Correct Answer:
Verified
Q2: The entity that is represented by a
Q3: A group of entities comprised of Kerri
Q4: Which of the following is not one
Q5: At balance date, Company A has 40%
Q6: When one entity controls another entity, the
Q7: For the purposes of consolidated financial reporting,
Q8: The process of preparing consolidated financial statements
Q9: A subsidiary is an entity that:
A) has
Q10: The equity in a subsidiary not attributable
Q11: The key characteristic that determines when consolidated
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