An Entity Is Related to a Reporting Entity If Any

question 12

Multiple Choice

An entity is related to a reporting entity if any of the following conditions apply, except:

• A) the reporting entity has significant economic dependence on the entity;
• B) both entities are joint venture of the same third party;
• C) the entity is the subsidiary of the reporting entity;
• D) the entity is a post-employment benefit plan for the reporting entity's employees.

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Definitions:

Trade Discount

A discount granted by the supplier to a purchaser of goods for resale.

Trade Discount

A reduction in the retail price provided by a seller to a buyer, often based on the quantity of goods purchased or to encourage prompt payment.

Trade Discount

A deduction from the list price of goods, provided by a seller to a buyer, often based on volume of purchase or early payment.

Trade Discount

A reduction in the listed price of a good or service offered by a seller to a buyer, usually based on the quantity purchased or the buyer's status.