Which of the following statements about joint arrangements is$/$are CORRECT:

$($i$)$ Joint operations are reported in the consolidated statement of financial position of the joint operator by recognising the share of assets and liabilities attributable to the joint operator.

$($ii$)$ Joint ventures are reported in the consolidated statement of financial position of the joint venturer using the equity method of accounting.

$($a$)($i$)$ only

$($b$)($ii$)$ only

$($c$)$ None of them is correct

$($d$)$ Both $($i$)$ and $($ii$)$ are correct