Cobourg Plc Has Following Transactions During the Year Which of the Following Lists All the Related-Party Transactions Required

question 19

Multiple Choice

Cobourg Plc has following transactions during the year: $$\begin{array} { | l | l | } \hline \mathrm { I } & \text { Sells goods to its parent entity at cost } \\\hline \text { II } & \text { Sells goods to its subsidiary at recommended retail price } \\\hline \text { III } & \text { Director is reimbursed his air ticket to attend a board meeting } \\\hline \text { IV } & \begin{array} { l } \text { Director's home renovation costs paid by the entity in exchange for interest } \\\text { bearing loan at market rates }\end{array} \\\hline \mathrm { V } & \text { Dividends paid to key management personnel as a shareholder of the entity } \\\hline \mathrm { VI } & \text { Retirement of key management personnel } \\\hline\end{array}$$ Which of the following lists all the related-party transactions required to be disclosed in IAS 24 Related Party Disclosures?

• A)I and II
• B)III and IV
• C)II, IV and V
• D)I, II, IV and VI

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Definitions:

\(n + 1\)

Represents the next consecutive integer or element following 'n' in a sequence.

\(\frac { 20 } { n + 1 }\)

A mathematical fraction expressing the relation of the number 20 to one more than some number n.

\(- 4\)

A negative integer, four units less than zero.

\(3 ^ { n }\)

An exponential expression where 3 is the base and \(n\) is the exponent, indicating three raised to the power of \(n\).