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Under this ias,if a related partutransaction is worth $1 only,is it material by naure and disclosable?
It depends on whether $1 is material to the related party. It probably isn’t material to the company but if the related party is a homeless person living in a card-board box under a bridge by the River Thames, then clearly it would be material.
However, remember that IAS and IFRS apply only to material matters and in your scenario it probably isn’t material to either party.
In conclusion, my reply must most probably be “No” not disclosable
Now, ask yourself if the examiner is (anytime within the next 100 years) likely to ask such a question
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