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Determine a parent-subsidiary relationship exists

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Question 1: In the following independent situations, discuss and determine whether a parent-subsidiary relationship exists, and which entity, if any, is a parent. You must fully explain and support your answer. This includes identifying and discussing each of the important facts or considerations in each case.

Point 1: Tom ltd is a company that was hurt by a major downturn in the economy. It previously obtained a significant loan from Jenson Bnak, and when Tom Ltd was unable to make its loan repayments, the bank made an agreement with Tom Ltd to become involved in the management of the company. Under the agreement between the two entities, Tom Ltd`s manager had to obtain authority from the bank for acquisitions over $10000 and were required to have bank approval for the company budgets.

Reference no: EM132505189

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