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Under Ind AS 24, which of the following pairs are NOT related parties merely by the relationship stated?
AAn associate and a subsidiary of the same investor entity
BTwo joint venturers who share joint control of the same joint venture
CTwo subsidiaries of a common parent
DA parent and a fellow subsidiary of the parent
Answer & Solution
Correct answer: B. Two joint venturers who share joint control of the same joint venture
Para 11(b) of Ind AS 24 explicitly states that two venturers are not related parties merely because they share joint control of a joint venture. The other three are all related parties through group membership or common control under para 9(b)(i).
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