Chugalug Ltd has three subsidiary companies and is engaged in a joint venture with an Italian company called Intervole. It has an agreement with one of its major suppliers whereby they share information so they can arrange for materials deliveries on a 'just-in-time' basis.
The wife of the managing director , who runs her own furnishings business, won a tender to supply and fit tables and chairs to the conference area in the head office. Chugalug is also part of a business consortium which shares good practice and lobbies the local Member of Parliament to make representations to the government on their behalf. This is operated through the local Chamber of Commerce. Chugalug owns shares in a rival company, Gluggit plc which it shows as an investment in its Statement of Financial position.
a) What is meant by a 'related party'
b) Which of the involvements of Chugalug shown above a not involvements with related party

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The Answer of Chugalug Ltd has three subsidiary companies and is engaged in a joint venture with an Italian company called Intervole. It has an agreement with one of its major suppliers whereby they share information so they can arrange for materials deliveries on a 'just-in-time' basis.
The wife of the managing director , who runs her own furnishings business, won a tender to supply and fit tables and chairs to the conference area in the head office. Chugalug is also part of a business consortium which shares good practice and lobbies the local Member of Parliament to make representations to the government on their behalf. This is operated through the local Chamber of Commerce. Chugalug owns shares in a rival company, Gluggit plc which it shows as an investment in its Statement of Financial position.
a) What is meant by a 'related party'
b) Which of the involvements of Chugalug shown above a not involvements with related party

Chugalug Ltd Has Three Subsidiary Companies and Is Engaged in a Joint