According to IAS 24, Related Party Disclosures Are Required Irrespective

question 33

Multiple Choice

According to IAS 24, related party disclosures are required irrespective of whether there have been related party transactions when:

• A) significant influence exists;
• B) control exists;
• C) economic dependence exists;
• D) all of the above.

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Definitions:

Simple Interest

Interest calculated only on the principal amount, without compounding over time.

Annual Rate

The yearly rate of interest or growth, often applied to loans, investments, and savings accounts.

Treasury Bill

A short-term government security issued at a discount from the face value and matures to its full value at the end of the term.

Simple Interest

Interest determined just on the base amount, not including compounded interest.