Which of the Following Statements Is Incorrect? AASB 8/IFRS 8

question 19

Multiple Choice

Which of the following statements is incorrect? AASB 8/IFRS 8 requires external revenue by product to be disclosed on an entity wide basis by all entities to which AASB 8/IFRS 8 applies:

• A) unless the information is not available and the cost to develop it would be excessive.
• B) unless the information has already been provided as part of the reportable segment information.
• C) and must be calculated based on the financial information used to produce the entity's financial statements.
• D) unless providing such information would be considered to damage the entity's competitive advantage.

---

Definitions:

Skewed

Refers to a distribution that is not symmetric, having one tail longer or more spread out than the other.

Mean

The arithmetic average of a distribution, obtained by adding the scores and then dividing by the number of scores.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution. It aims to provide an accurate description of the entire data set.

Extremely Low Scores

Results that are significantly below the average range in assessments or evaluations.