The Core Principle of AASB 8 Operating Segments Is for a Reporting

question 37

True/False

The core principle of AASB 8 Operating Segments is for a reporting entity to disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates.

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Definitions:

Quality of Labor

Refers to the skill levels, education, training, and productivity of workers within an economy.

Imports Volume

The total quantity of goods and services brought into a country from abroad over a specific time period.

Exports Volume

The total quantity of goods and services a country sells to foreign countries within a specified timeframe.

Economy Size

A measure of the total value of all goods and services produced by a country's economy, often assessed through GDP.