If an Entity Chooses to Apply the Disclosure Exemption in Paragraph

question 19

Multiple Choice

If an entity chooses to apply the disclosure exemption in paragraph 25 of IAS 24, it is still required to do the followings, except:

• A) disclose the nature of the relationship with the government-related entities;
• B) identify the government to which it is related;
• C) the nature and amount of every transaction with government-related entities;
• D) a qualitative or a quantitative indication of the extent of other transactions that are collectively significant.

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Definitions:

Internal Sphincter

A ring of muscle that surrounds and closes a natural bodily passageway, functioning involuntarily.

External Sphincter

A circular muscle that helps control the expulsion of feces from the anal canal or urine from the bladder.

Large Intestine

A part of the digestive system responsible for absorbing water and electrolytes, forming and storing feces.

Interconversion

The process of converting one form of a substance or energy into another form.