AASB 8 Allows Reportable Segments to Be Combined as a Single

question 74

True/False

AASB 8 allows reportable segments to be combined as a single operating segment if:
(a)they exhibit similar long-term financial performance; and (b)they are similar in all of the appropriate factors identified in the standard in relation to segment revenues,expenses,assets and liabilities.

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Definitions:

Planning Process

A systematic approach involving the setting of goals, developing strategies, and outlining tasks and schedules to achieve these goals.

Management by Objectives (MBO)

A management strategy focusing on defining specific objectives that management and employees agree to achieve, thus guiding activities and performance measurement.

Self-Appraisal

An evaluation process in which an individual assesses their own performance, strengths, and weaknesses.

Performance Results

The outcomes or achievements resulting from the execution of specific actions, tasks, or activities.