The FASB Define Related Parties as

question 61

Multiple Choice

The FASB define related parties as

• A)affiliates of the company
• B)investments accounted for using the cost method of accounting for investment securities
• C)trusts for the benefit of employees,such as,pension and profit sharing trusts that are managed by union representatives
• D)principal debtors of the company and their immediate families
• E)management of the company and their immediate families
• F)both A and E
• G)both B and C
• H)both D and E

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Definitions:

Anti-aromatic

Anti-aromatic compounds are cyclic molecules that are destabilized by the presence of conjugated π electrons, failing to meet the criteria for aromatic stability.

O-bromostyrene

An organic compound composed of a bromine atom bonded to the benzene ring of styrene, used in various chemical synthesis processes.

Structure

A configuration or arrangement of elements in a material or object.

Isopropylbenzaldehyde

A compound with a benzene ring attached to an isopropyl group and an aldehyde group.