Walton Co is a government agency that controls Science Limited. Science Limited has two subsidiaries: Physics Limited and Biology Limited. To which entities can Physics Limited apply the disclosure exemption in paragraph 25 of AASB 124?
A) Science Limited only.
B) Walton Co Limited only.
C) Science Limited and Biology Limited only.
D) Walton Co Limited, Science Limited and Biology Limited.

Question

Quizplus · Accepted Answer

Physics Limited can apply the disclosure exemption in paragraph 25 of AASB 124 to its parent entity (Walton Co, a government agency controlling Science Limited) and to all entities controlled, jointly controlled or significantly influenced by Walton Co, which includes Science Limited and Biology Limited.

Walton Co Is a Government Agency That Controls Science Limited