Which of the following is usually not a related party as referred to in AASB 124 Related Party Disclosures?
A) subsidiary
B) associate
C) son-in law of the chief executive officer
D) trade union official

Question

Quizplus · Accepted Answer

AASB 124 defines related parties as being individuals or entities that are related to the reporting entity. This includes direct/indirect subsidiaries, associates, joint ventures, key management personnel, and their close family members. However, a trade union official would typically not be related to the reporting entity unless they had some other connection or affiliation.

Which of the Following Is Usually Not a Related Party