CERTYNEX IFRS ACADEMY

Which statements about the classification of a joint arrangement structured through a separate vehicle are correct? More than one answer is possible.

The terms of the contractual arrangement can confirm or modify the rights and obligations that the legal form would suggest.

The assessment aims to determine whether the parties have rights to assets and obligations for liabilities, or rights to net assets.

Other facts and circumstances are examined when the contractual arrangement binding the parties expressly provides for it, and set aside otherwise.

The legal form of the vehicle fixes the classification, the terms and other facts serving to document a conclusion already reached.

The parties assess the legal form of the vehicle, the terms of the contractual arrangement and, when relevant, other facts and circumstances.