Basil Ltd Has an 80% Interest in a Joint Venture

Multiple Choice

Basil Ltd. has an 80% interest in a joint venture. Under IFRS, what is attributed to the Basil?

A) 80% of the realized and unrealized gains and losses arising from upstream sales
B) 80% of the realized and unrealized gains and losses arising from downstream sales
C) 100% of the realized and unrealized gains and losses arising from upstream sales
D) 100% of the realized and unrealized gains and losses arising from downstream sales