Which of the following is not one of the three elements of control according to AASB 10/IFRS 10 Consolidated Financial Statements?
A) The ability to use power over the investee to affect the amount of the investor's returns.
B) Dominating the decision making of the investee.
C) Power over the investee.
D) Exposure, or rights, to variable returns from involvement with the investee.

Question

Quizplus · Accepted Answer

The three elements of control according to AASB 10/IFRS 10 Consolidated Financial Statements are power over the investee, exposure, or rights, to variable returns from involvement with the investee, and the ability to use power over the investee to affect the amount of the investor's returns. Dominating the decision making of the investee is not explicitly mentioned as one of the elements of control.

Which of the Following Is Not One of the Three