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Anand witnesses a particularly bad argument between his parents. Among other things, his parents are arguing about whether his mother was too harsh in her punishment of Anand when he would not share a cookie with his sister. Anand thinks to himself, ÒIt's my fault my parents are fighting! If I had been better behaved, my parents would be happy.Ó Anand's thoughts are best described as an example of:
AASB 127
An accounting standard issued by the Australian Accounting Standards Board that outlines the accounting and reporting principles for investments in associates and joint ventures.
Separate Financial Statements
Financial statements presented by a parent or an investment entity that displays its investments in subsidiaries, associates, and joint ventures at cost or in accordance with specified financial instruments standards.
Reporting Entity
An entity, including companies and governments, that is required to present its financial statements to external users.
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