AASB 8 Identifies a Number of Purposes for Segment Data

question 21

Multiple Choice

AASB 8 identifies a number of purposes for segment data.These include:

• A) Enhance understandability of the information.
• B) Achieve comparability with other entities.
• C) Provide relevant and reliable information to users about product/service-related risks and returns.
• D) Provide relevant and reliable information to users about geographically related risks and returns.
• E) All of the given answers.

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Definitions:

Regional Trade Agreements

Treaties between countries in the same region to reduce trade barriers and promote economic cooperation.

Trade Barriers

Measures implemented by a government to restrict or control international trade, including tariffs, quotas, and embargoes.

Normal Trade Relations

A status granted by one country to another in international trade, ensuring equal treatment in terms of import duties and tariffs.

World Trade Organization

An international organization designed to supervise and liberalize world trade by providing a framework for negotiating trade agreements and a dispute resolution process.