Which of the Following Statements Is Not Accordance with AASB

question 45

Multiple Choice

Which of the following statements is not accordance with AASB 131 "Interests in Joint Ventures"?

• A) A venturer is required to recognise its interest in a jointly controlled assets using proportionate consolidation or the alternative method, equity accounting.
• B) A venturer is required to recognise its interest in a jointly controlled entity using proportionate consolidation or the alternative method, equity accounting.
• C) In jointly controlled operations, when the venturer presents consolidated financial statements no adjustments or other consolidation procedures are required because the assets, liabilities, income and expenses are recognised in the financial statements of the venturer.
• D) In jointly controlled assets, when the venturer presents consolidated financial statements no adjustments or other consolidation procedures are required because the assets, liabilities, income and expenses are recognised in the financial statements of the venturer.
• E) None of the given answers.

Understand the concept of global commodity chains and their impact on labor and production.

Comprehend the role of globalization in shaping international economic and political relations.

Recognize the significance of endorsements and branding in the valuation of products.

Identify the effects of international agreements and transnational corporations on nation-state autonomy.

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Definitions:

Regional Rail

A passenger rail service that operates between different regions within a country, offering medium to long-distance travel options.

Annual

Occurring once every year.

Plains Droughts

Long periods of abnormally low rainfall, especially prevalent in the Great Plains of the United States, leading to severe water shortages and agricultural difficulties.

Crop Output

Crop output refers to the total quantity of agricultural products harvested in a given period, influencing food supply and economic health.