Which of the following is not one of the three elements of control according to AASB 10 Consolidated Financial Statements?
A)The ability to use power over the investee to affect the amount of the investor's returns.
B)Dominating the decision making of the investee.
C)Power over the investee.
D)Exposure,or rights,to variable returns from involvement with the investee.

Question

Quizplus · Accepted Answer

Dominating the decision making of the investee is one of the elements of control according to AASB 10 Consolidated Financial Statements. The other two elements are power over the investee and the ability to use power over the investee to affect the amount of the investor's returns. Exposure, or rights, to variable returns from involvement with the investee is also an element of control. Therefore, the correct answer is B.

Which of the Following Is Not One of the Three