IFRS Defines Control As

Multiple Choice

IFRS defines control as:

A) the direct or indirect ability to determine the direction of management and policies through ownership, contract, or otherwise.
B) the power to govern the entity's financial and operating policies as to obtain benefits from its activities.
C) the power to direct the activities that impact economic performance, the obligation to absorb expected losses, and the right to receive expected residual returns.
D) having a majority of the ownership interests entitled to elect management.