When an entity controls another entity, consolidated statements must be prepared. Which of the following substantive tests gather evidence regarding the completeness assertion as it relates to consolidated statements? Identify reporting entities controlled by the entity under audit. Compare the statement presentation with applicable accounting standards. Verify the consolidating adjustments. Recalculate the fair value of the reporting entity. An entity may have investments in other entities. Which of the following is accurate? (Several choices may be correct.) The ability to exercise control cannot be gained through cumulative investments by the entity and its subsidiaries. Consolidated statements must be prepared if an entity has a controlling investment in another entity. Control is likely to arise if an entity has more than 50% of the voting shares. Contractual arrangements determine the relationship for joint ventures. Entities with greater than 20% and less than 50% investment are typically accounted for as joint ventures