Where a Non-Controlling Interest Exists in a Subsidiary,AASB 12 Disclosure

question 45

Multiple Choice

Where a non-controlling interest exists in a subsidiary,AASB 12 Disclosure of Interests in Other Parties requires parent entities to disclose which of the following for each such subsidiary?
I Summarised financial information about each subsidiary.
II The proportion of ownership interests held by non-controlling interests.
III If the subsidiary is not wholly owned,the names of all other members.
IV The country of incorporation of subsidiaries.

• A)I,II and IV only
• B)II,III and IV only
• C)I and IV only
• D)I,II,III and IV

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Definitions:

Vacation Time

Authorized absence from work, generally for rest or leisure, granted to employees as a benefit.

Large Law Firm

A law firm with a significant number of attorneys, often having a wide global or national presence and offering a range of legal services.

Small Law Firm

A legal practice with a limited number of attorneys, offering more personalized services and often focusing on a specific area of law.

Legislative History

The record of all the documents created and actions taken during the process of enacting a piece of legislation.