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:

Debit Machinery

An accounting entry that reflects an increase in the value of machinery assets on the balance sheet.

Interest

The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.