A subsidiary is a company that is under the control of another company. A subsidiary can be under a parent company or another subsidiary company in which case it would be called a sub-subsidiary. This happens normally in group companies where the control is spread in various levels.
If company A holds more than 50% shares of another company B, the control is automatically achieved by company A. When company B, a subsidiary acquires more than 50% of another company C, the control is achieved by both company B and company C. This is because company A controls company B which controls company C. In other words, Company A is a parent in this group that controls both company B and company C.
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Select the correct answer for each of the following questions.
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The following events are indicated in note 15 of J. Crew’s
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