According to IAS 31,a Jointly Controlled Entity Is a Corporation,partnership,or

question 20

Multiple Choice

According to IAS 31,a jointly controlled entity is a corporation,partnership,or other entity in which two or more venturers have an interest.Which type of arrangement establishes joint control over the entity?

• A) Commercial arrangement
• B) Contractual arrangement
• C) Tacit arrangement
• D) Supply arrangement

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Definitions:

Vertical

Oriented upward, perpendicular to the horizon or a horizontal plane.

Rotary

Refers to something revolving around a center or axis, such as a rotary engine or a rotary dial.

Ear Ossicles

The three small bones in the middle ear known as the malleus, incus, and stapes, which transmit sound vibrations from the eardrum to the inner ear.

Visual Accessory

Visual accessory refers to items or devices that enhance or support vision, such as glasses, contact lenses, or magnifying tools.