Clare Ltd owns 47% of Andy Ltd and governs the operating decisions of Andy Ltd; but Clare Ltd does not govern the financial decisions of Andy Ltd. Under AASB 3 Business Combinations Clare Ltd would: Select one: O consolidate Andy Ltd because, despite that less than 50% is owned, it is highly possible that Clare Ltd would cast a majority vote at the annual general meeting. not consolidate Andy Ltd because the percentage ownership is not greater than 50%. not consolidate Andy Ltd, because Clare Ltd must govern all decisions of a subsidiary before a consolidation is required. consolidate Andy Ltd because Clare Ltd governs sufficient decision-making of Andy Ltd. O O Which of the following statements incorrect? Select one: o A. The NCI is entitled to a share of the subsidiary's equity adjusted for the effects of profits or losses made on intra-group transactions. O B. The NCI is a contributor of equity to the consolidated group. C. The NCI is entitled to a share of the group's consolidated equity. D. The calculation of the NCI is not affected by profits or losses relating to intra-group transactions. O 0 According to AASB 10 Consolidated Financial Statements, the term 'non-controlling interest' is defined as: Select one: A. the equity in the parent entity other than the portion owned by the subsidiary entity. O B. equity in a parent that is owned, directly or indirectly, by a subsidiary. C. equity in a subsidiary not attributable, directly or indirectly, to a parent. D. the equity in the economic entity other than that which can be attributed to the subsidiary entity. O O