The Scope of IAS 24 States That IAS 24 Shall

question 1

Multiple Choice

The scope of IAS 24 states that IAS 24 shall be applied in identifying the followings, except for:

• A) outstanding balances, including commitments, between an entity and its related parties;
• B) insider trading with related parties;
• C) circumstances in which disclosures of transactions with related parties are required;
• D) related party relationships and transactions.

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Definitions:

Local Regulators

Prostaglandins (a group of local hormones), growth factors, cytokines, and other soluble molecules that act on nearby cells by paracrine regulation or act on the cells that produce them (autocrine regulation).

GABA

Gamma-aminobutyric acid, a neurotransmitter in the brain that inhibits nerve transmission, promoting calm and reducing neural activity.

Endocrine Glands

Organs in the body that secrete hormones directly into the bloodstream to regulate various bodily functions.

Interstitial Fluid

The fluid that bathes the tissues of the body; also called tissue fluid.