Where a Change in Ownership Interest Results in the Loss

question 2

Multiple Choice

Where a change in ownership interest results in the loss of control of a subsidiary:

• A) the gain or loss will be recorded in other comprehensive income.
• B) the gain or loss in the parent's records will equal the consolidated gain or loss.
• C) the remaining investment will be recorded at fair value in accordance with AASB 9 Financial Instruments.
• D) the remaining investment will be accounted for in accordance with AASB 127 Separate Financial Statements.

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Definitions:

Unlocked

Not secured or fastened; often refers to items, devices, or systems that can be accessed without a key or code.

Strict Liability

A legal doctrine where a party is held responsible for damages or loss, regardless of fault or intent.

Injured Ankle

A physical condition involving harm or damage to the ankle often resulting from an accident or sports activity.

Sidewalk

A paved path for pedestrians on the side of a street or road.