Final answer:
In 2004, GAAP expanded the definition of 'control' and addressed the definition and consolidation requirements for business entities.
Step-by-step explanation:
In 2004, GAAP expanded the definition of 'control' and addressed the definition and consolidation requirements for business entities. The expansion of the definition of 'control' meant that more entities would be considered as consolidated subsidiaries. It also provided guidance on how to determine whether a company has control over another entity.