AASB 8 Requires That

question 41

Multiple Choice

AASB 8 requires that:

• A) Reportable segments must individually constitute less than 75 per cent of the entity's total revenues.
• B) The total revenues attributable to the reportable segments must be equal to or greater than 75 per cent of the entity's total revenues.
• C) The total external revenues attributable to reportable segments must equal at least 75 per cent of the entity's total revenues.
• D) The sum of the individual reportable segment's profits or losses must be equal to or greater than 75 per cent of the entity's absolute amount of profit or loss.

Understand how budgeting processes are utilized in clinics and service companies.

Comprehend the concept of activity variance in financial management.

Identify the difference between favorable and unfavorable variances.

Apply knowledge of fixed and variable costs to predict financial outcomes.

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Definitions:

Exchange Relationship

A social relationship based on reciprocal actions where each party provides something of value to the other.

Role Clarity

The extent to which individual roles and responsibilities within an organization or group are clearly defined and understood.

Citizenship Behaviors

Voluntary and beneficial actions employees do to help others and the organization, beyond their formal duties.

Favorable Behavior

involves actions or conduct that positively impact situations or relations, often leading to beneficial outcomes or improved perceptions.