Entities Being Under Common Control as Defined by AASB 124

question 59

Multiple Choice

Entities being under common control as defined by AASB 124 include:

• A) entities that have an equity ownership of 20 per cent or greater in an entity that is a subsidiary of an entity that is wholly owned by a party related to the reporting entity.
• B) fellow subsidiaries, where fellow subsidiaries are wholly owned by a parent entity.
• C) entities that are controlled or have significant influence exercised over them by an entity that is wholly owned by a related party of the reporting entity.
• D) subsidiary companies that are controlled by a parent company.

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Definitions:

Aptitude Tests

Tests designed to assess an individual's potential to develop skills or knowledge in a specific area.

Single

In research, it may refer to a single-case study design or in demographics, to an individual not in a romantic relationship.

Specific

Clearly defined or identified; precise or particular.

Multiple

Referring to the presence of more than one element or aspect in a given situation or system.