Statement I If an entity holds directly/indirectly 50% or more of the voting power of the investee, it is presumed thus such entity has significant influence.
Statement II AS-24 deals with related party disclosures.
Which of the following is/are correct?
A. Only statement I is true
B. Only statement II is true
C. Both statements are true
D. Both statements are false
Answer: Option B
This Question Belongs to Commerce >> Accounting
As 18 deals with Related party disclosure so statement 2 is wrong❌