According to AASB 124,an entity is related to a reporting entity if which of the following conditions applies:
A)one entity is a joint venture of a third entity and the other entity is an associate of the third entity
B)both entities are joint ventures of the same third party
C)the entity and the reporting entity are members of the same group
D)all of the above

Question

Quizplus · Accepted Answer

According to AASB 124, all the conditions listed (A, B, and C) describe situations where an entity is considered related to a reporting entity. This includes entities involved in joint ventures or associates of a third entity, entities that are joint ventures of the same third party, and entities that are members of the same group.

According to AASB 124,an Entity Is Related to a Reporting