Transactions with and amounts receivable from or payable to a key management person and their related parties are excluded from additional disclosures when:
A) the transactions occur within a normal employee, customer or supplier relationship on terms and conditions no more favourable than those that it is reasonable to expect the entity would have adopted if dealing with an unrelated person.
B) the information about them does not have a potential to affect adversely decisions about the allocation of scarce resources made by the users of the financial report, or the discharge of accountability by the key management person.
C) these are trivial or domestic in nature.
D) All of the given answers are correct.

Question

Quizplus · Accepted Answer

All of the given answers are correct. Transactions with and amounts receivable from or payable to a key management person and their related parties are excluded from additional disclosures when they occur within a normal employee, customer, or supplier relationship on reasonable terms and conditions, do not have the potential to adversely affect decisions about resource allocation or discharge of accountability, or are trivial or domestic in nature.

Transactions with and Amounts Receivable from or Payable to a Key