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:

Three Decimal Places

A numerical precision or format in which a number is rounded or expressed to the third digit to the right of the decimal point.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution, often seen in the mean, median, or mode.

Bimodal Distributions

A probability distribution with two different modes or peaks, indicating it has two prevalent values.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, commonly the mean, median, or mode.