For a joint venture to be recognised under AASB131 there must be a contractual arrangement

Name: For a joint venture to be recognised under AASB131 there must be a contractual arrangement
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Question

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According to AASB 131, a joint venture is a contractual arrangement where two or more parties come together to undertake an economic activity that is subject to joint control. Therefore, a contractual arrangement is necessary for a joint venture to be recognized under AASB 131.

For a Joint Venture to Be Recognised Under AASB131 There