Which of the following statements is correct?

Select one:

A subsidiary cannot use Weighted Average Cost to measure its inventory if the parent uses a different inventory method.

Companies that are jointly controlled by two or more other companies do not report under AASB3, Business Combinations.

After it is taken over by a parent, a subsidiary must revalue all its financial statement items to fair value.

Under AASB3 a partnership cannot be a member of a corporate group.