Home › CA Final › financialreporting › Ind AS 111 — Joint Arrangements: Joint Control, Implicit/Explicit Joint Control, Protective Rights › Under Ind AS 111, 'joint control' is defined as:
Under Ind AS 111, 'joint control' is defined as:
AContractually agreed sharing of control, existing only when decisions about the relevant activities require the unanimous consent of the parties sharing control
BControl by the party with the majority voting interest
CEqual voting rights between two or more parties
DOperational control jointly exercised by all parties
Answer & Solution
Correct answer: A. Contractually agreed sharing of control, existing only when decisions about the relevant activities require the unanimous consent of the parties sharing control
Joint control = contractually agreed sharing of control PLUS unanimous-consent requirement for decisions about relevant activities. Equal voting rights alone (without unanimous-consent) is not joint control.
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