The Practice by Woolworths Ltd of Presenting Their Financial Statements

question 7

Multiple Choice

The practice by Woolworths Ltd of presenting their financial statements in millions of dollars is an application of the concept of:

• A) relevance.
• B) materiality.
• C) understandability.
• D) disclosure.

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Definitions:

Linear Perspective

Monocular depth perception cue; the tendency for parallel lines to appear to converge on each other.

Motion Parallax

Monocular depth perception cue; the perception of motion of objects in which close objects appear to move more quickly than objects that are farther away.

Reversible

Describing a process or condition that can be returned to its original state or form without permanent damage.

Figure-Ground Effect

A visual perception principle that involves distinguishing a figure (object) from its background based on differences such as color, luminance, shape, or motion.