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St Multiple-choice (1 marka) D (1). The note disclosure presented below is an example of what kind of disclosure? Compensation of key management personnel and directors of the Company For the year ended December 31 2020 2019 $ $ Salaries and other short-term employment benefits 11 11 Directors' fees 0.B 0.8 Share based compensation 8.1 8.3 Total compensation 19.9 20.1 Santec Inc. (2021) STN 2020 Annual Report htts://www.santec.com/content/dam/stantece/investor relations/2020/94 year-end/STN 20202012 Annual Report of A. Non-GAAP measure 3. Full disclosure prinieple Carmanta.renartina Dont Marie-Chemarks orta 1 18 A Non-GAAP measure B. Full disclosure prinieple C. Segmented reporting D. Related party transaction 20 1 Answer 21 22 (2). Which of the following statements is true regarding related party transactions? A. Related party transactions can be ignored for financial reporting, B. Related party transactions are to be recorded at fair value. Related parties do not include members of the immediate family of company management, 28 D. Transactions between related parties are usually presumed to take place at arms length. #2 Answer 27 I Goli Marie-Choice (11 maria #2 Answer: (3) Ty Construco's year end is December 31, 2020. The company issued its financial statements on March 31, 2021. On January 22, 2021, one of its warehouses was significantly damaged by a fire. Ty Construx has fire Insurance coverage. How should Ty account for the fire in its 2020 financial statements? 10 11 BER A Adjust the 2020 figures to account for the loss incurred from the fire. B. Neither adjust or disclose as the fire is considered to be general knowledge. C. Disclose the event in its notes to the 2020 financial statements D. Issue a press release indicating the damages experienced in the fire. 30 34 #3 Answers