Identify the correct statement about an arm$$s$-$length transaction.

Group of answer choices

An arm$$s$-$length transaction should involve at least one interested party that is concerned about the probable consequences of the transaction.

It is a transaction made by parties as if they were unrelated, in a free market system, each acting in its own best interest.

A transaction involving subsidiaries would not be considered an arm$$s$-$length transaction because the parties are acting independently.

It is a transaction in which one party sets aside independent interest so as to focus on the wishes of the controlling party.

It is a transaction involving a party that is controlled by another entity and does not act on its own behalf.