Which of the Following Statement(s)is/are Correct

question 4

Multiple Choice

Which of the following statement(s) is/are correct?

• A) A related party transaction is a transfer of resources, services or obligations between related parties that is not at arm's length.
• B) The existence of a related party transaction can expose an entity to risks or opportunities that otherwise would not have existed in the absence of the relationship.
• C) Related parties include organisations that are under the control or significant influence of the entity and individuals such as key management personnel and their close family members.
• D) All of the given answers.
• E) The existence of a related party transaction can expose an entity to risks or opportunities that otherwise would not have existed in the absence of the relationship and related parties include organisations that are under the control or significant influence of the entity and individuals such as key management personnel and their close family members

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Definitions:

Uric Acid

A chemical created when the body breaks down substances called purines, high levels of which can lead to gout and other health problems.

Waste Products

Materials or substances that are no longer useful or desired and are intended to be discarded.

Metabolic Wastes

Substances left over from metabolic processes, such as carbon dioxide, water, and nitrogenous compounds, that need to be excreted from the body.