For a Segment to Be Reportable,AASB 8 Requires That Majority

question 35

True/False

For a segment to be reportable,AASB 8 requires that majority of revenues be earned from external parties and the segment satisfies one of the three quantitative thresholds.

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Definitions:

Diagnosis

The identification of the nature and cause of a certain phenomenon, typically after a thorough examination or assessment.

Confirmation Bias

The inclination to look for, interpret, prioritize, and remember information in a manner that validates one's existing beliefs or assumptions.

Availability Heuristic

A fast-track cognitive process that uses the earliest examples coming to mind for a person when evaluating a unique topic, concept, practice, or choice.

Gambler's Fallacy

The inaccurate belief that when something is happening more frequently than is typical during a particular time, it will subsequently happen less frequently, or the other way around.