Under AASB 127 Parent Companies May Choose Whether to Present

question 32

True/False

Under AASB 127 parent companies may choose whether to present one set of consolidated accounts or to provide two or more sub-sets of the consolidated accounts to cover the whole group:

Comprehend key accounting principles and assumptions like the monetary unit principle and the time period assumption.

Understand how transactions and events affect a company's financial position.

Recognize the role and requirements of Certified Public Accountants (CPAs).

Grasp the basic concepts of risk and return on assets.

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