AASB 11 Joint Arrangements, provides that joint control exists where:
A) no single party is in a position to control the activity unilaterally.
B) no one party may be appointed as the manager of the joint arrangement.
C) one party alone has power to control the strategic operating decisions of the joint arrangement.
D) the decisions in areas essential to the goals of the joint arrangement do not require the consent of the parties.

Question

Quizplus · Accepted Answer

Joint control exists where no single party is in a position to control the activity unilaterally. This means that all parties must have a say in the decisions that affect the arrangement. This is also in line with the definition of joint arrangements provided in AASB 11.

AASB 11 Joint Arrangements, Provides That Joint Control Exists Where