CERTYNEX IFRS ACADEMY

Which statements about the classification of joint arrangements are correct? More than one answer is possible.

In a joint venture, the parties that have joint control have rights to the net assets of the arrangement.

A joint arrangement housed in a company is a joint venture, with no need to examine the rights and obligations of the parties.

A joint arrangement whose parties share the results is a joint operation, whatever the nature of their rights.

In a joint operation, the parties that have joint control have rights to the assets and obligations for the liabilities of the arrangement.

Classification results from an assessment of the rights and obligations arising from the arrangement, not from the name given to it.