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Hello sir, I am confused on two aspects of control definition. In the definition control of in addition to the point that you must be exposed to variable returns (i.e, you must have invested in ordinary shares of subsidiary rather bonds and preference shares to have control over investee) it is stated that you must have the POWER and also ABILITY to use power.
Kindly explain what is ”power” , how do you get ”power” and what is meant by ”ablility to use the power”
and whether all these 3 elements of control definition need to satisfy at once for your to exercise control over an investee?
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