Entities included in a wholly owned group as defined by AASB 124 include:
A) Entities that have an equity ownership of 20 per cent or greater in an entity that is a subsidiary of an entity that is wholly owned by a party related to the reporting entity.
B) Wholly owned entities' subsidiaries, where subsidiaries are any entity controlled by a parent entity.
C) Entities that are controlled or have significant influence exercised over them by an entity that is wholly owned by a related party of the reporting entity.
D) Subsidiary companies that are wholly owned by a parent company.
E) None of the given answers.

Question

Quizplus · Accepted Answer

The Answer of Entities included in a wholly owned group as defined by AASB 124 include:
A) Entities that have an equity ownership of 20 per cent or greater in an entity that is a subsidiary of an entity that is wholly owned by a party related to the reporting entity.
B) Wholly owned entities' subsidiaries, where subsidiaries are any entity controlled by a parent entity.
C) Entities that are controlled or have significant influence exercised over them by an entity that is wholly owned by a related party of the reporting entity.
D) Subsidiary companies that are wholly owned by a parent company.
E) None of the given answers.

Entities Included in a Wholly Owned Group as Defined by AASB