Question No 2:
RS is a listed entity that has no subsidiaries although its Finance Director is also a director of TU, an unconnected entity.
It is preparing its financial statements to 30 September 20X6.
Which of the following substantial transactions must be disclosed in these financial statements in accordance with IAS 24 Related Party Disclosures?
A. Pension payments made on behalf of the Managing Director of RS.
B. Purchase of production materials from TU at a discounted price to the current market value.
C. Sale of finished goods to TU at normal selling price.
D. Performance related bonus payments made to the office staff for the year.
Answer: A
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