Once Control Over a Subsidiary Has Been Lost,the Parent Entity

question 39

True/False

Once control over a subsidiary has been lost,the parent entity must derecognise the individual assets,liabilities and equity including any non-controlling interest relating to that subsidiary.

---

Definitions:

Virginian

Pertaining to Virginia, a state in the southeastern United States, or its inhabitants.

Patrick Henry

A Founding Father of the United States known for his declaration "Give me liberty, or give me death!" in opposition to British rule.

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge in a manner that is shared by (common to) nearly all people.

Thomas Paine

An influential political writer and revolutionary of the 18th century, known for works like "Common Sense" and "The Rights of Man."