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19 5. Rose acquired 75% of the equity shares of Lemon on 1 January x2. Lemon has 60% interest in Berry from 1 January x1.

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19 5. Rose acquired 75% of the equity shares of Lemon on 1 January x2. Lemon has 60% interest in Berry from 1 January x1. What is the relationship between Rose and Berry?* (a) Berry is an associate of Rose (b) They are independent of each other as Rose does not hold any shares in Berry. (c) Berry becomes a sub-subsidiary of Rose as Rose is able to exert control over Berry through Lemon (d) Berry is the subsidiary of Lemon and Berry is excluded from consolidation

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