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Which related party relationship parent vs subsidary

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Reference no: EM132766757

Problem 1: Related party relationship between a parent and a subsidary

a. should be disclosed only if there have been transactions between them during the period

b. should not be disclosed

c. should be disclosed regardless of whether there have been transactions between them during the period

d. should be disclosed only in the separate financial statements.

Problem 2: Entities are related parties if, according to PAS 24,

a. they are husband and wife

b. they are close family members

c. one party has the ability to affect the financial and operating policies of the other party through the presence of control, joint control, or significant influence.

d. one party has the ability to significantly influence the other.

Reference no: EM132766757

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