Entities being under common control as defined by AASB 124 include:
A) entities that have an equity ownership of 20 per cent or greater in an entity that is a subsidiary of an entity that is wholly owned by a party related to the reporting entity.
B) fellow subsidiaries, where fellow subsidiaries are wholly owned by a parent entity.
C) entities that are controlled or have significant influence exercised over them by an entity that is wholly owned by a related party of the reporting entity.
D) subsidiary companies that are controlled by a parent company.

Question

Quizplus · Accepted Answer

Entities under common control as defined by AASB 124 include fellow subsidiaries, where both are wholly owned by the same parent entity.

Entities Being Under Common Control as Defined by AASB 124