'Control' Exists When the Parent Owns Less Than Half of the Voting

question 1

Multiple Choice

'Control' exists when the parent owns less than half of the voting power of an entity when:

• A) no other entity owns more than half either.
• B) there is power to govern the financial and operating policies of the entity under a statute.
• C) there is power to govern the financial and operating policies of the entity under an agreement.
• D) there is power to govern the financial and operating policies of the entity under a statute and there is power to govern the financial and operating policies of the entity under an agreement.
• E) no other entity owns more than half either, there is power to govern the financial and operating policies of the entity under a statute and there is power to govern the financial and operating policies of the entity under an agreement.

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