AASB 8 Bans the Disclosure of Segments That Do Not

question 69

True/False

AASB 8 bans the disclosure of segments that do not pass the '10 per cent test'.

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Definitions:

Value

The importance, worth, or usefulness of something, often determined by the demand for it in the market or its inherent qualities.

Simple Consideration

The minimal requirement of value that must be exchanged between parties entering into a contract, for the contract to be considered valid.

Indorsement

The act of signing the back of a negotiable financial instrument, thereby making it payable to someone other than the named holder.

Signature

A person's name written in a distinctive way as a form of identification in authorizing a document.