O WORDS POWERED BY TINY QUESTION 3 15 points Save Answer Chang Ltd owns 40% of Tweet Ltd. The CFO of Chang Ltd is a member of the board of directors of Tweet Ltd. The remaining 60% ownership is spread across a large number of shareholders. These shareholders live in various geographical locations such as India, USA and Japan. They rarely attend AGMs. Tweet Ltd has entered into a fixed 10-year binding contract with Chang Ltd, which requires Tweet Ltd to purchase 90% of its inventories from Chang Ltd. This is a beneficial arrangement for Tweet Led, as the selling price is always highly discounted. Required: Using the facts provided and references to AASB10, discuss whether Chang Ltd is required to prepare consolidated financial statements. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I y S Paragraph Arial I. % OG == o .. = V 10pt + HE 0) 20 PES > TTC T 79 92 BH x X2