AASB 124 Defines Control As

question 46

Multiple Choice

AASB 124 defines control as:

• A) the exercise of power to direct the decision making of another entity in relation to financial and operational decisions so as to enable the controlling entity to benefit as a result.
• B) the capacity to influence the financial and operational decision making of another entity through the board of directors so as to achieve the co-operation of the other entity in obtaining the ends of the controlling entity.
• C) the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
• D) the potential ability to obtain desired outcomes through another entity by influence through representatives on the governing board of the other entity.

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