According to AASB 124, Related Party Disclosures Are Required Irrespective

question 13

Multiple Choice

According to AASB 124, related party disclosures are required irrespective of whether there have been related party transactions when:

• A) control exists.
• B) significant influence exists.
• C) economic dependence exists.
• D) all of the above.

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Definitions:

Openness

A trait dimension of personality characterized by a willingness to try new experiences, engage with different viewpoints, and express creativity.

Positively Correlated

When two variables are positively correlated, it means that as the value of one variable increases, the value of the other variable tends to increase as well.

Aggression

Refers to behaviors or actions, whether physical or verbal, intended to harm, intimidate, or exert dominance over others.

Temperature

A physical quantity that expresses hot and cold, measured typically in degrees Celsius, Fahrenheit, or Kelvin.