In order for control to exist as the basis for a related-party disclosure the capacity to control must have been demonstrated as having been exercised in the past.

Question

Quizplus · Accepted Answer

In order for control to exist as the basis for a related-party disclosure, the capacity to control does not necessarily have to have been exercised in the past. The ability to exercise control may be based on ownership interests or other contractual arrangements. Therefore, the statement is false.

In Order for Control to Exist as the Basis for a Related-Party