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83: Which of the following is considered a related party transaction? a. Company A purchases the securities of company B at their fair value. b.
83:
Which of the following is considered a related party transaction?
a.
Company A purchases the securities of company B at their fair value.
b.
Company A has had a distributor relationship with company B for 10 years.
c.
Company A loans funds to company B at market rates.
d.
Company A subsidizes certain operating expenses of company B.
A CPA is examining the purchase orders obtained from the company to verify proper authorization of transactions, this is an example of a(an):
a.
reperformance.
b.
observation.
c.
inspection.
d.
confirmation.
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