IFRS defines control as:
A) the direct or indirect ability to determine the direction of management and policies through ownership, contract, or otherwise.
B) the power to govern the entity's financial and operating policies as to obtain benefits from its activities.
C) the power to direct the activities that impact economic performance, the obligation to absorb expected losses, and the right to receive expected residual returns.
D) having a majority of the ownership interests entitled to elect management.

Question

Quizplus · Accepted Answer

Control under IFRS is defined as the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. This encompasses the ability to direct the strategic financial and operational policies of the entity in a manner that significantly affects its returns.

IFRS Defines Control As