alleryStart learning →Which feature is common to all joint ventures under AS 27?
AStock exchange listing
BSeparate company shares
CEqual ownership shares
DJoint control by contract
Answer & Solution
Correct answer: D. Joint control by contract
Every joint venture needs two or more venturers bound by a contract that creates joint control, whatever its legal form.
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Related questions
For jointly controlled entities, a venturer must disclose which item?How are joint venture capital commitments disclosed?AS 27 disclosure of contingent liabilities is not needed when the probability of loss is wFor which statements is AS 27 mandatory in respect of an enterprise?How does the joint venture itself account for the operator's management fee?Fees earned by an operator of a joint venture are accounted for under which standard?Which standard is used to test impairment in venturer and venture transactions?A loss on purchase from a venture is booked at once when it shows what?