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- IAS 24 – Related Party Disclosures 0%
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Question 1 of 10
1. Question
IAS 24 requires a reporting entity to ___________ transactions with its related parties.
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Question 2 of 10
2. Question
IAS 24 requires a reporting entity to disclose relationships __________ irrespective of whether there have been transactions between them.
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Question 3 of 10
3. Question
The objective of IAS 24 is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances, including commitments, with such parties.
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Question 4 of 10
4. Question
In which of the following cases shall IAS 24 be applied to?
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Question 5 of 10
5. Question
IAS 24 requires disclosure of related party relationships, transactions and outstanding balances, including commitments, in the consolidated financial statements of a parent or investors with joint control of, or significant influence over, an investee presented in accordance with __________.
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Question 6 of 10
6. Question
Intragroup related party transactions and outstanding balances are __________, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group.
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Question 7 of 10
7. Question
Related party relationships are a normal feature of commerce and business.
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Question 8 of 10
8. Question
A related party relationships __________ on the profit or loss __________ financial position of an entity.
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Question 9 of 10
9. Question
Which of the following statements is less likely to be true in respect with IAS 24?
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Question 10 of 10
10. Question
Knowledge of the entity’s risks and opportunities may affect its assessment of transactions, outstanding balances, including commitments, and relationships with related parties.
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