Answers:
01. Related party disclosure
02. Disclosure standard
03.
Both the existence of related parties and transactions and outstanding balances with
related parties only
04. Both above are related parties to XYZ Co.
05. False
06. All of the above
07. Transfer of resources, services or obligations between
a reporting entity and a related party, regardless of whether a price is charged.
08. Is a related party transaction and to be disclosed
in financial statements
09. Date when related party relationship built
10. All above are required to be disclosed
