(Total: 10 marks) Provide a response to the following questions: 1) List and describe the three (3) elements required for an investor to be considered to have control of a business entity 2) According to paragraph 10 of AASB 137/IAS 37, what is the definition of a contingent liability? (3 marks) 3) Define a provision according to AASB 137/IAS 37. (2 marks) 4) In which scenario(s), would a contingent liability be recognised as a provision? (2 marks)