Disclosure Information Under AASB 124 Is Aggregated By

question 63

Multiple Choice

Disclosure information under AASB 124 is aggregated by:

• A) forex currency base, size of the transaction and class of related party.
• B) size of the transaction, type of transaction and frequency of the transaction.
• C) type of transaction, nature of terms and conditions and class of related party.
• D) nature of terms and conditions, class of related party and frequency of the transaction.

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Definitions:

Drafting

The process of creating preliminary versions of documents or drawings that will be revised and refined.

Revising

The act of modifying or altering texts to improve accuracy, coherence, and congruence with the intended message.

Planning

The process of creating strategies and outlining steps to achieve specific goals.

Planning Stage

The phase in a project or process where goals are set, strategies are developed, and tasks are outlined to achieve objectives.