The Process by Which Competing Interests Determine Who Gets What

question 23

Multiple Choice

The process by which competing interests determine who gets what, when, and how is called

• A) voting.
• B) separation of powers.
• C) checks and balances.
• D) politics.
• E) gateways.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements globally.

Noncontrolling Interest

It refers to the ownership in a subsidiary not attributable to the parent company, representing a minority share that does not control the company.

Assets

Economic resources owned or controlled by a business or an individual which are expected to produce future benefit.