With Respect to Loans Made to a Related Party,which of the Following

question 59

Multiple Choice

With respect to loans made to a related party,which of the following statement(s) is/are correct in accordance with AASB 124?

• A) The details of each aggregate of loans made to key management personnel and their related parties must be disclosed.
• B) The details of each aggregate of loans made to a key management person and their related parties whose loan exceeded $100 000 at any time during the period.
• C) The details of material loans made to key management personnel and their related parties must be disclosed.
• D) All of the given answers.
• E) The details of each aggregate of loans made to key management personnel and their related parties must be disclosed and the details of each aggregate of loans made to a key management person and their related parties whose loan exceeded $100 000 at any time during the period.

---

Definitions:

Increased By

A phrase indicating that a quantity has been added to, usually in the context of arithmetic operations or describing growth in a financial metric.

Increased By

An expression denoting an addition or increment in value or quantity.

HST

Harmonized Sales Tax; a combined tax in some Canadian provinces that merges the federal goods and services tax (GST) and provincial sales tax (PST).

Retail Price

The cost at which products are sold to the public, typically set higher than the wholesale price to include profit and expenses.