The Factors Listed in AASB 128 That May Be Used

question 22

Multiple Choice

The factors listed in AASB 128 that may be used singly or in combination to establish the existence of significant influence include:

• A)the investor's voting power in the investee
• B)dependence on technical information
• C)material transactions between investor and investee
• D)all of the above

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Definitions:

Nondisclosure

A failure to provide pertinent information about a projected contract.

Basic Assumption

A fundamental principle or belief that is accepted as true without proof.

Voidable

Refers to a legal distinction indicating that an agreement or transaction can be nullified or canceled by one of the parties involved.

Rescinded

Describes an action whereby a contract, order, or agreement is revoked, canceled, or repealed.