Which of the Following Statements Is Correct

question 184

Multiple Choice

Which of the following statements is correct?

• A) Under International Financial Reporting Standards (IFRS), consolidated financial statements are required when there is a controlling interest.
• B) Under Accounting Standards for Private Enterprises (ASPE), consolidated financial statements are required when there is a controlling interest.
• C) Under International Financial Reporting Standards (IFRS), a subsidiary's results can be accounted for using the equity method.
• D) When there is a controlling interest, consolidation is preferable but not required under both International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE).

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Definitions:

Fourth Screen Technology

Refers to the use of small, portable screens as the fourth wave of screen-based media, following cinema, television, and computer screens, encompassing smartphones, tablets, and other handheld devices.

Personalized Content

Customized media and marketing materials tailored to the preferences, interests, or past behaviors of an individual or segment of the audience.

Platform Relevance

The degree to which a digital or physical platform remains significant and useful to its intended audience or users, often in the context of evolving market dynamics.

Personal Interaction

Direct, face-to-face communication between individuals, which can enhance understanding, strengthen relationships, and facilitate collaboration.