A Form of Time Draft Called A(n) ____________________ Is Used

question 50

Short Answer

A form of time draft called a(n) ____________________ is used by a seller as a credit device.

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Definitions:

AASB 114

Australian Accounting Standards Board ruling 114, which sets guidelines for segment reporting by financial entities.

AASB 8/IFRS 8

Operating Segments, a standard that requires entities to disclose information about their operating segments, products, services, and geographical areas.

Disclosure Requirements

Rules and regulations that mandate the release of all relevant financial information that could influence the decision-making process of investors, stakeholders, and the public.

Reportable Segments' Revenue

The revenue generated from different segments of a business that meets certain criteria making it significant enough to require separate disclosure in financial reports.