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:

Planning

The process of creating strategies and outlining steps to achieve specific goals.

Planning Stage

The phase in a project or process where goals are set, strategies are developed, and tasks are outlined to achieve objectives.

Determining Goals

The process of identifying and setting specific, measurable, achievable, relevant, and time-bound objectives.

Communication Problems

Issues or barriers that impair the effective exchange of information between individuals or groups.