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If there have been transactions between related parties, disclosure regarding the nature of the related party relationship needs to be made as well as information
If there have been transactions between related parties, disclosure regarding the nature of the related party relationship needs to be made as well as information about the transactions and outstanding balances necessary for an understanding of the potential effect of the relationship on the financial statements.
What are some of the disclosures that need to be made separately for each category of related parties in a related party transaction?
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