In Accordance with AASB 8 an Operating Segment Is a Component

question 44

Multiple Choice

In accordance with AASB 8 an operating segment is a component of an entity:

• A) that engages in business activities from which it may earn revenues and incur expenses.
• B) whose operating results are regularly reviewed by the entity's chief operating decision maker to make decisions about resources to be allocated to the segment and asses its performance.
• C) for which discrete financial information is available.
• D) All of the given answers are correct.

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Definitions:

Systematic Error

Errors in measurement that are consistent, predictable, and typically caused by faulty equipment or bias, which can lead to inaccuracies in data collection or analysis.

Overspends

The act of spending more money than is budgeted or considered financially wise.

Constant Need

A requirement or demand that does not change over time.

Nobel Prize

An international award given annually in several categories such as literature, peace, and various sciences, recognizing outstanding contributions to humanity.