An entity determines the type of joint arrangement by examining the structure, legal form, contractual agreement, and other facts and circumstances. (True)

Question

Quizplus · Accepted Answer

The determination of the type of joint arrangement (joint operation or joint venture) is based on an assessment of the structure, legal form, contractual agreement, and other facts and circumstances surrounding the arrangement, as per accounting standards.

An Entity Determines the Type of Joint Arrangement by Examining