Answer the following questions with respect to the definitions and application of AASB 10/IFRS 10 Consolidated Financial Statements. (i) Chip Ltd has 37% of the voting rights in Dale Ltd. An investment bank with which Chip Ltd has a business relationship holds a 15% voting interest in Dale Ltd. Because of the closeness of the business relationship with the bank, Chip Ltd believes it can rely on the bank's support to ensure it cannot be outvoted at general meetings of Dale Ltd. However, there is no guarantee that the bank will always support Chip Ltd. In this situation is Chip Ltd a parent of Dale Ltd? Explain your answer. (3 marks) (ii) Scrooge Lid and McDuck Ltd own 55% and 45% respectively of the ordinary voting shares of Beagle Boys Ltd. McDuck also holds debt instruments that are convertible in ordinary voting shares of Beagle Boys Ltd. The debt can be converted at a substantial price, in comparison with McDuck Ltd's net assets, at any time. If the debt were to be converted McDuck Ltd would hold 70% of the voting rights of Beagle Boys Ltd and Scrooge Ltd's interest would reduce to 30%. McDuck Ltd does not intend to enter into the conversion of the debt. In this situation is McDuck Ltd a parent of Beagle Boys Ltd? Explain your