IFRS Defines Control As

question 32

Multiple Choice

IFRS defines control as:

• A) the direct or indirect ability to determine the direction of management and policies through ownership, contract, or otherwise.
• B) the power to govern the entity's financial and operating policies as to obtain benefits from its activities.
• C) the power to direct the activities that impact economic performance, the obligation to absorb expected losses, and the right to receive expected residual returns.
• D) having a majority of the ownership interests entitled to elect management.