21.1 ……… is applied by an entity to identify its joint ……….. and the type of joint arrangement that it is involved in by assessing the entity’s rights and obligations and to ………. for those rights and obligations based on the type of joint arrangement.
21.2 A joint arrangement is a ………………. in which two or more parties have joint control of the arrangement.
21.3 The assignment of a joint arrangement is mutually ………….. because a joint arrangement cannot be a joint …………… and joint ………… at the same time.
21.4 A contractual arrangement is a document that details the terms in which the parties participate in the activity for which the …………… was established or signed.
21.5 The contractual arrangement in a joint arrangement that is executed through a separate vehicle is embedded in the ………….. or other charter documents.
21.6 ………….. is the contractually agreed sharing of control in an arrangement and is present when decisions pertaining to the relevant activities require the unanimous
consent of the parties sharing control.
21.7 The contractual arrangement in a …………….. gives the parties to the arrangement the rights to the assets and obligations for the liabilities pertaining to the arrangement.
21.8 A joint venture is structured through a separate vehicle that confers ………….. between the parties and the assets and liabilities in the vehicle.
21.9 A joint arrangement can take two forms namely …………. or …………..
21.10 A joint venture is a joint arrangement where the parties who have joint control of the arrangements have ………………….. of the arrangement.
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