Examlex
A widely applied test for causation in fact is the "but for" rule.
Related Party Transaction
Financial transactions between entities that are considered to have a special relationship, such as companies with common ownership.
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to standardize financial reporting around the world.
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle if longer.
Current Liabilities
Obligations that a company is required to pay within the next year or within its operating cycle if longer.
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