Entities Included in a Wholly Owned Group as Defined by AASB

question 21

Multiple Choice

Entities included in a wholly owned group 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) entities that are an associate or joint venture of the other 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 wholly owned by a parent company.

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Definitions:

Intergroup Bias

The tendency to favor one's own group over other groups in judgment or treatment.

Self-Esteem

The degree to which a person has a positive self-evaluation.

Locus of Control

A psychological concept referring to an individual's belief about the extent of control they have over events in their lives, which can be internal (believing they have control) or external (believing that outside forces have control).

Negative Affectivity

Propensity to view the world, including oneself and other people, in a negative light.