AASB 8 Identifies Five Factors That Are to Be Considered

question 58

True/False

AASB 8 identifies five factors that are to be considered in determining whether or not products and services are related for the purposes of defining a business segment.It further specifies that the products and services included in a business segment must be similar with respect to all these factors.

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Definitions:

Reinforcement

Reinforcement is a concept in behavioral psychology involving the use of stimuli to increase the likelihood of a specific response; it can be positive (adding a stimulus) or negative (removing a stimulus).

Primary and Secondary Needs

Basic and advanced levels of human needs, where primary needs are physiological, such as food and shelter, and secondary needs include social and psychological aspects.

Information Processing

The methods by which organisms receive, store, retrieve, and manipulate information from their environment.

Generalized Expectations

Beliefs or anticipations about the likelihood of outcomes based on general knowledge or past experiences, without specific evidence for the current situation.