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Which statements best describes term significant influence

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Reference no: EM132765982

Problem 1: Which of the following is not optional?

a) use of an Income Summary account

b) preparation of the Worksheet

c) making adjusting entries

d) preparation of Post-Closing Trial Balance

Problem 2: According to PAS 28 Investments in associates, which of the following statements best describes the term 'significant influence'?

a) The holding of a significant proportion of the share capital in another entity

b) The contractually agreed sharing of control over an economic entity

c) The power to participate in the financial and operating policy decisions of an entity

d) The mutual sharing in the risks and benefits of a combined entity

Reference no: EM132765982

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