According to AASB 10 Consolidated Financial Statements,which of the Following

question 18

Multiple Choice

According to AASB 10 Consolidated Financial Statements,which of the following factors indicate the existence of control?
I.Possessing existing rights that give the current ability to direct the relevant activities.
II.Shared power in the governance of financial and operating policies of another entity so as to obtain benefits.
III.The power to have significant influence over the operating policies of an entity so as to obtain benefits.
IV.Ownership of more than 50% of the voting rights in the subsidiary.

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

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Definitions:

Terrify

To cause someone to experience extreme fear.

Major Depressive Disorder

A mental health disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities, significantly affecting daily life.

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Significant Weight

A term often used to denote a weight that is of importance or consequence, possibly in a medical or personal fitness context.