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9. Under ASPE, the loan that bank ABC extended to its auditor under customary terms and conditions is an example of a related party transaction.

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9. Under ASPE, the loan that bank ABC extended to its auditor under customary terms and conditions is an example of a related party transaction. True False 10. ASPE assesses historical and future information when analyzing impairment but the expected credit loss assess only forward-looking information. True False

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