Q1. IAS 24 has stated a number of relationships that would not normally lead to related party transaction that would not normally lead to related party transaction, list and illustrate them, and define what IAS 24.?

Q2. Explain why non-adjusting items are not reported in the financial statement if they are of sufficient materiality to be disclosed!

Q.3 According to IAS 10 there are events that need to be adjusted as aresult for furthure information became available after the year-end, such as in inventory, liability non-current assets, illustrate the process that is being required under the standards.