Problem 13-4 Multiple choice (IFRS) 1. Which is not included in key management personnel compensation? a. Short-term benefit b. Share-based payment c. Termination benefit d. Reimbursement of out-of-pocket expenses 2. Which of the following is not a mandated disclosure about related party transactions? a. Relationship between parent and subsidiaries b. Names of all the associates that an entity has dealt with during the year. c. Name of the entity's parent and, if different, the ultimate controlling party. d. If neither the entity's parent nor the ultimate controlling entity produces financial statements available for public use, then the name of the next most senior parent that does so. 3. Which of the following is not a required minimum disclosure about related party transaction? a. The amount of related party transaction b. The amount of the outstanding balance c. The amount of similar transaction with unrelated parties to establish that comparable related party transaction has been entered at arm's length d. Doubtful debt related to the outstanding balance C. 4. Related party transactions include all, except a. A venturer sold goods to the joint venture. b. Sold a car to the uncle of the entity's finance director. Sold goods to another entity owned by the daughter of the entity's managing director. d. All of these are related party transactions. 5. All of the following are related party transactions, except a. Transferred goods from inventory to a subsdiary b. Sold an entity car to the wife of the managing director c. Sold an asset to an associate d. Took out a huge bank loan 279