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Accounting > Related Party Transaction
The following information is about Related Party Transaction.
Related Party Transaction Defined
Business or other transaction between persons who do not have an arm's-length relationship (e.g., a relationship with independent, competing interests). The most common is between family members or controlled entities. For tax purposes, these types of transactions are generally subject to a greater level of scrutiny.
This definition is in context to Accounting. See more contextual defintions for Related Party Transaction.
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