When an entity controls another entity, consolidated statements must be prepared. Which of the following substantive tests gather evidence regarding the completeness assertion as it relates to consolidated statements?(select one option that is right )

i)Verify the consolidating adjustments.

ii)Compare the statement presentation with applicable accounting standards.

iii)Recalculate the fair value of the reporting entity.

iv) Identify reporting entities controlled by the entity under audit.

An entity may have investments in other entities. Which of the following is accurate? (Several choices may be correct.)( so select all the correct option )

i)Entities with greater than 20% and less than 50% investment are typically accounted for as joint ventures.

ii)Contractual arrangements determine the relationship for joint ventures.

iii)The ability to exercise control cannot be gained through cumulative investments by the entity and its subsidiaries.

iv)Control is likely to arise if an entity has more than 50% of the voting shares.

v)Consolidated statements must be prepared if an entity has a controlling investment in another entity.