alleryStart learning →Under IFRS, a subsidiary with two parties sharing control is really what?
AAn associate company
BA joint arrangement
CA branch office
DA trading division
Answer & Solution
Correct answer: B. A joint arrangement
A subsidiary has one parent; where two or more parties share joint control it is a joint arrangement.
Keep practising Consolidated Financial Statement
Browse all Consolidated Financial Statement questions for CA Final, or explore more Auditing topics.
Related questions
Which expenditure is generally immaterial?What is the objective of an audit of financial statements?For the UK small-group exemption, how many of the three tests must be met?Under UK Companies Act 2006 s.399, who must prepare group accounts?What does a holding company usually not do itself?What is the primary business of a holding company?Can a parent company be smaller than its subsidiary?What is a second-tier subsidiary?