According to AASB 10/IFRS 10 Consolidated Financial Statements, which of the following factors indicate the existence of control? $\begin{array}{|l|l|}
\hline \text { I. } & \text { Ownership of more than } 50 \% \text { of the voting rights in another entity. } \
\hline \text { II. } & \begin{array}{l}
\text { Shared power in the governance of financial and operating policies of another } \
\text { entity so as to obtain benefits. }
\end{array} \
\hline \text { III. } & \begin{array}{l}
\text { Possessing existing rights that give the current ability to direct the relevant } \
\text { activities of another entity. }
\end{array} \
\hline \text { IV. } & \begin{array}{l}
\text { The power to have significant influence over the operating policies of an } \
\text { entity so as to obtain benefits. }
\end{array} \
\hline
\end{array}$
A) I, II and IV only.
B) I and III only.
C) II and IV only.
D) II only.

Question

Quizplus · Accepted Answer

Ownership of more than 50% of the voting rights (I) and possessing existing rights that give the current ability to direct relevant activities (III) are clear indicators of control as per AASB 10/IFRS 10. Shared power (II) and significant influence (IV) do not necessarily indicate control.

According to AASB 10/IFRS 10 Consolidated Financial Statements, Which of the Following