What term does IAS 11 use for "a contractual arrangement whereby two or more parties having joint control have right to the net assets of the arrangement"?
A)Merger
B)Consolidation
C)Joint venture
D)Business combination

Question

Quizplus · Accepted Answer

IAS 11 uses the term "joint venture" for a contractual arrangement whereby two or more parties having joint control have the right to the net assets of the arrangement. A merger and consolidation involve the combination of two or more separate entities into a single entity, while a business combination is a broader term that includes mergers, acquisitions, and other types of transactions where one entity acquires control over another entity.

What Term Does IAS 11 Use for "A Contractual Arrangement