7. Flat Co owns 100% of the ordinary shares in Hill Co. Which of the following is a valid reason under IFRS for non-consolidation of Hill Co by Flat Co? ABCD [ ] [ ] [ ] [ ] Flat Co is unable to exercise control over Hill Co Hill Co does not provide financial data to Flat Co Hill Cooperates in a different industry sector from Flat Co The cost of the consolidation is onerous

7. Flat Co owns 100% of the ordinary shares in Hill Co. Which of the following is a valid reason under IFRS for non-consolidation of Hill Co by Flat Co? ABCD [ ] [ ] [ ] [ ] Flat Co is unable to exercise control over Hill Co Hill Co does not provide financial data to Flat Co Hill Cooperates in a different industry sector from Flat Co The cost of the consolidation is onerous

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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