According to IFRS 10 (new standard),control exists if,and only if,the investor has
A) Power over the investee
B) Exposure,or rights,to variable returns from its involvement with the investee
C) The ability to use its power over the investee to affect the amount of the investor's return
D) All of these

Question

Quizplus · Accepted Answer

IFRS 10 considers three criteria to determine if control exists: power over the investee, exposure or rights to variable returns, and the ability to use power over the investee to affect the investor's return. Therefore, all of choices A, B, and C are necessary to demonstrate control under IFRS 10.

According to IFRS 10 (New Standard),control Exists If,and Only If,the