According to the IASB

question 15

Multiple Choice

According to the IASB,

• A) the cost method must be used instead of the equity method.
• B) consolidated financial statements are required.
• C) companies may choose between issuing parent company or consolidated financial statements.
• D) the pooling of interests method may not be used.

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Definitions:

Lower-Level Needs

Basic physiological and safety needs in Maslow's hierarchy, which must be satisfied before higher-level needs for love, esteem, and self-actualization can be addressed.

Self-Actualization

A concept in humanistic psychology referring to the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

External Locus of Control

The belief that one's outcomes in life are controlled by external factors beyond their personal control.

Human Agency

The capacity of individuals to act independently and make choices, influencing their environment and their own lives.