Under IFRS, SPEs are consolidated when evidence indicates that the reporting company "controls" the SPE. Control is presumed if which of the following conditions exist? The reporting entity performs activities on behalf of the SPE.
The SPE has decision-making powers over the activities of the reporting entity.
The reporting company has exposure, or rights, to variable returns from its involvement with the investee
The reporting company has the ability to use its power over the investee to affect the amount of the firm's returns
A. I, II, and III only.
B. I and II only.
C. III and IV only.
D. I, II, III, and IV.
Answer: C
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Nocum Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (3,000 units)$120,000Variable expenses 90,000Contribution margin 30,000Fixed expenses 21,000Net operating income$9,000 If sales decline to 2,900 units, the net operating income would be closest to:
A. $8,700 B. $29,000 C. $1,000 D. $8,000
Dissolution of a corporation:
a. may be voluntary or involuntary b. is always voluntary c. is never voluntary d. cannot be voluntary in some states e. cannot be involuntary in some states
The ____________________ is the difference between the lowest and highest values in a data set
Fill in the blank(s) with correct word
The temporary working capital needs for Hasbeen Toys in quarter 1 is closest to ________
A) $0 million B) $340 million C) $770 million D) $845 million