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) Exposure, or rights, to variable returns from involvement with the investee.
C) Dominating the decision making of the investee.
D) Power over 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 included as one of the elements of control.

Which of the Following Is Not One of the Three