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CA Final Ind AS 111 — Joint Arrangements: Joint Control, Implicit/Explicit Joint Control, Protective Rights — practice questions
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Practice CA Final Ind AS 111 — Joint Arrangements: Joint Control, Implicit/Explicit Joint Control, Protective Rights in the app →Under Ind AS 111, 'joint control' is defined as:Ind AS 111 classifies a joint arrangement as either:Two parties to an arrangement bound by a contract — Ind AS 111 applies when:PQR Ltd. and XYZ Ltd. each hold 50% voting rights. The contract requires at least 51% of voting rights to apprX Ltd. holds 50% of voting rights, Y Ltd. and Z Ltd. each hold 25%. Decisions require at least 75% of voting rElectronics Ltd. is set up by R (60% voting) and S (40% voting). The articles say R and S each appoint 2 direcMN Software Ltd. is owned 50%-50% by M and N. Each appoints 2 directors (board of 4); decisions are by simple DEF Ltd. is established by D, E and F. Unanimous consent of all three is required ONLY for change of name, ameEntity A and Entity B have unanimous-consent decision-making over relevant activities. The contract also givesRS Ltd. is formed by R (highway construction) and S (highway operation). R decides construction-related matterFour investors A (10%), B (20%), C (30%), D (40%) — articles require majority voting for relevant activities. ABC Ltd. is 50:50 between AB and BC. AB appoints 3 directors and BC appoints 2 (board of 5); decisions need siX Ltd. and Y Ltd. buy land jointly and divide it into 3 equal parts. X manages Part 1 alone (its own returns),When classifying a joint arrangement structured through a separate vehicle as a joint operation vs joint ventuWhich of the following is the BEST characterisation of the difference between a joint operation and a joint ve