Tennant Creek Ltd has following transactions during the year:
$\begin{array}{|l|l|}
\hline \text { I }& \text { Leasing arrangement with an associate } \
\hline \text { II } & \text { Sale of products to a major customer } \
\hline \text { III } & \text { Transactions in a joint venturer } \
\hline IV & \text { Immaterial loan to key management personnel } \
\hline \mathrm{V} & \text { Allowance for bad debts from a related party } \
\hline \text { VI }& \text { Purchase of goods from a major supplier }\
\hline
\end{array}$
Which of the following lists all the related-party transactions that are required to be disclosed in AASB 124 Related Party Disclosures?
A) I and III
B) III and V
C) II, III and IV
D) I, IV and V

Question

Quizplus · Accepted Answer

Transactions I (leasing arrangement with an associate), IV (immaterial loan to key management personnel), and V (allowance for bad debts from a related party) are considered related-party transactions under AASB 124 and require disclosure. Transactions with associates, key management personnel, and related parties fall under the scope of AASB 124.

Tennant Creek Ltd Has Following Transactions During the Year Which of the Following Lists All the Related-Party Transactions That