If an entity chooses to apply the disclosure exemption in paragraph 25 of AASB 124, it is still required to do the following, except:

Question

Quizplus · Accepted Answer

If an entity chooses to apply the disclosure exemption in paragraph 25 of AASB 124, it is still required to disclose the nature of the relationship with the government-related entities and identify the government to which it is related. However, it is not required to disclose the nature and amount of every transaction with government-related entities or provide a qualitative or quantitative indication of the extent of other transactions that are collectively significant.

If an Entity Chooses to Apply the Disclosure Exemption in Paragraph