AASB 10 Consolidated Financial Statements Defines a 'Parent Entity' and a 'Subsidiary

Multiple Choice

AASB 10 Consolidated Financial Statements defines a 'parent entity' and a 'subsidiary entity' as:
The original answer was (a) , which I think is incorrect. The correct answer should be (c) .
$$\begin{array} { | l | l | l | } \hline & \text { parent } & \text { Subsidiary } \\\hline \text { I } & \begin{array} { l } \text { An entity which owns more than } 40 \% \text { of } \\\text { the voting shares of another entity }\end{array} & \begin{array} { l } \text { An entity in which another entity owns } \\\text { more than 40\% of the voting shares }\end{array} \\\hline \text { II } & \begin{array} { l } \text { An entity which owns more than } 20 \% \text { of } \\\text { the voting shares of another entity }\end{array} & \begin{array} { l } \text { An entity which is owned partly by another } \\\text { entity }\end{array} \\\hline \text { III } & \text { An entity that has one or more subsidiaries } & \begin{array} { l } \text { An entity which is controlled by a parent } \\\text { entity }\end{array} \\\hline \text { IV } & \text { An entity that controls another entity } & \begin{array} { l } \text { An entity in which the parent entity owns } \\\text { more than } 20 \% \text { of the voting shares }\end{array} \\\hline\end{array}$$

A) I
B) II
C) III
D) IV