alleryStart learning →Joint control needs which kind of decision approval?
AA simple majority vote
BApproval of the auditor
CUnanimous consent of the parties
DConsent of the largest holder
Answer & Solution
Correct answer: C. Unanimous consent of the parties
Joint control is contractually shared control, so relevant decisions require every sharing party to agree.
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?