The Disclosure Requirements of AASB 124 Are Grouped in Part

question 1

Multiple Choice

The disclosure requirements of AASB 124 are grouped in part by:

• A) Currency of transaction: transactions should be grouped by currency of the transaction so that users can identify any forex risk associated.
• B) Size. Three broad categories of disclosure are required depending on the percentage size of the transaction relative to the turnover of the entity. The categories are 0.5 per cent - 9 per cent, 10 per cent - 20 per cent, 21 per cent and over.
• C) Frequency: Transactions repeated during the period are distinguished from one-off transactions.
• D) Related-party type. The directors of the entity and their director-related entities, entities in the wholly owned group, other related parties.
• E) None of the given answers.