Which of the Following Statements Concerning AASB 1052 'Disaggregated Disclosures

question 18

Multiple Choice

Which of the following statements concerning AASB 1052 'Disaggregated Disclosures' is not correct?

• A)AASB 1052 requires that where local governments are required to use fund accounting for grant purposes, they do not need to prepare general-purpose financial reports.
• B)AASB 1052 deems each local government to be a reporting entity.
• C)AASB 1052 requires local governments to use accrual accounting.
• D)AASB 1052 requires each local government to prepare general-purpose financial reports.

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Definitions:

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A method of argument for resolving disagreement that involves the exchange of arguments and counter-arguments, aiming to find the truth through reasoned dialogue.

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A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.

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The tendency for individuals to attribute a greater value to an outcome they had to put effort into achieving or acquiring.