Which of the following statements is not correct?
A) Control is the power to govern the operating policies of an entity so as to obtain benefits from its activities (AASB 3)
B) Control that is joint control does not satisfy the definition of control under AASB accounting standards in respect of group formation
C) It is possible to control another company by means of economic pressure alone
D) Control could be obtained over a public listed company by obtaining 20 per cent of its voting shares.
Correct Answer:
Verified
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