Question
As an auditor you came across a situation where related
party transactions have taken place. Which AS deals with it?Solution
Related party transactions are covered under Accounting Standard (AS) 18, which is titled "Related Party Disclosures." AS 18 provides guidelines for identifying and disclosing transactions between an entity and its related parties in the financial statements. The standard outlines the definitions of related parties and the disclosures that need to be made in the financial statements to ensure transparency and proper representation of the financial position and performance of the entity.Â
Which airport was awarded the title "World's Best Airport" at the Skytrax World Airport Awards 2024?Â
Which of the following countries have become a full time member of SCO (Shanghai Cooperation Organization)?
What do you call the type of drugs that mimic the natural messenger by switching on the receptors?
Which country has emerged as India's third largest exports destination during 2022-23, after the US and UAE?
Which of the following statements is incorrect regarding the landform known as Nubbin?
Which of the following states is/are not a part of Western Ghats:
1.           Gujarat
2.           Maharashtra
With reference to Lifestyle for the Environment (LiFE) initiative, consider the following statements:
1.   It was introduced by the India Dur...
Who has been appointed as the President of the Professional Golf Tour of India (PGTI)?
In which city did Union Minister Sarbananda Sonowal chair the inaugural meeting of the Inland Waterways Development Council in January 2024?
Thangka paintings are primarily associated with which religion?
