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.

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Definitions:

Accountability

The obligation of individuals or organizations to be answerable for their actions, to ensure they meet established standards.

Unregulated Care Provider (UCP)

Individuals who provide health care or support services without formal regulation, often under the supervision of regulated health professionals.

Delegated

The process of assigning responsibility or authority to another person to carry out specific activities while the original person retains overall responsibility.

Accountability

The obligation of individuals or organizations to account for their activities, accept responsibility for them, and disclose the results in a transparent manner.