When does an activity be part of related party transaction?

Q: related party transactions

A: Option a is wrong because the outstanding balance with the related parties and their terms and…

Q: What is physical location exchanges?

A: Exchanges:  An open and coordinated marketplace for various financial instruments like stocks,…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: What is a trial balance? What is its purpose?

A: Trial Balance: Trial balance is the summary of accounts, and their debit and credit balances at a…

Q: What is the objective of a transaction log?

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: What is a registration statement?

A: Statement: It can be defined as any sentence or a line that provides information in a definite or a…

Q: What does the process of providing this information to external users is called? Describe about it…

A: Financial Reporting System:   It refers to monitoring the financial resources of an organization as…

Q: transaction, an event, and an arrangement.

A: Transaction, event and arrangement are commonly used in business or life to denote certain…

Q: How are gain contingencies recorded?

A: Introduction Gain Contigencies are the uncertain events that result in gain. The gain is purely…

Q: How do you think the "organizer of activity"?

A: The question seems confusing. Therefore, I am answering the following terms: Organized activity…

Q: What are management’s responsibilities related to maintaining a transaction trail?

A: A transaction tail defines the sequence of evidences which helps in reconstruction of transaction…

Q: What is a transaction?

A: Transaction refers to the business activity which brings change in the business assets, liabilities…

Q: Who is considered a related party when we refer to related party transactions

A: Transactions where the client or the client's top management is related to each other or where the…

Q: ne

A: Negotiable Instruments are written contracts whose benefit could be passed on from its original…

Q: Where are transactions initially recorded?

A: The primary point where the financial transaction, which is initiated or effected by entity during a…

Q: Describe what is meant by transaction analysis.

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: Distinguish between a fictitious transaction and an artificial transaction?

A: The difference between fictitious transaction and an artificial transaction is based on the…

Q: How is a change in entity recorded?

A: Change in reporting entity:   A change in reporting entity occurs when two or more previously…

Q: What kinds of information can be confirmed with a transfer agent?

A: The transfer agent is an entity that holds the information about the financial records of the…

Q: Consideration is i transaction which

A: Transactions between related persons and other activities of the Schedule I under the CGST Act will…

Q: What is identifying owner?

A: The answer is provided as follows:

Q: What is ALCO and what important duties do they perform?

A: A resource with economic value that a person, company, or country owns or controls with the…

Q: Explain and distinguish the difference between a transaction, an event and an arrangement.

A: The accounting equation is expressed in the form al an equation, that is, an asset must be equal to…

Q: What is incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: What is involved in the posting process?

A: Posting: Posting process means posting of all transactions of business into general ledgers. Every…

Q: What is understood by Incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: Define the term operating activities.

A: Operating activities are the functions of a business directly related to providing its goods and/or…

Q: Explain how securitisation works and what the role is of each party involved during the process

A: Financial securities are the instruments that are used by investors to invest their funds and money…

Q: What is an internal exchange transaction, and how is it reported?

A: Internal exchange transactions are those reciprocal exchange transactions that occur between funds…

Q: What are the operating activities? Give some examples?

A: The statement of cash flows is the statement which shows the change in the cash and cash equivalents…

Q: What are finanicial transactions?

A: Transaction process system: It is a transaction process system can be defined as a system which is…

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: For what purpose are entity relationship diagrams used?

A:

Q: What transaction is covered by Maceda Law?

A: MACEDA LAW is also known as REALTY INSTALLMENT BUYER ACT, was approved in 26th August 1972 to…

Q: What does operating activities includes?

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: How a transaction is determine to be Accretive or Dilutive and what does it means

A: Earnings per share: Earnings per share represent the amount of income earned per share of…

Q: What is articles of association

A: Articles of Association is very important documentation for the company which shows all the rules…

Q: what is articulation

A: Financial statement They are the records of financial activities which are formal in nature. It…

Q: what is the procedure used?

A: Journal entry is a basic accounting entry and is the first step in double entry system of…

Q: What is the purpose of Transaction Tagging?

A: Tagging and tracking transaction: In tagging and tracking transaction technique, the auditor puts a…

Q: Define transaction

A: A transaction is an instance of buying or selling something.

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: What is off-exchange transaction?

A: The answer is provided in the next step.

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.