The key element of a joint arrangement is a contractual agreement establishing joint control of an economic activity.

Name: The key element of a joint arrangement is a contractual agreement establishing joint control of an economic activity.
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A joint arrangement requires a contractual agreement that gives two or more parties joint control over the economic activity conducted through the arrangement, which is a fundamental aspect of such arrangements as defined in accounting standards like IFRS 11.

The Key Element of a Joint Arrangement Is a Contractual