Discuss the Entity-Wide Disclosures in AASB 8 That Need to Been

question 33

Essay

Discuss the entity-wide disclosures in AASB 8 that need to been made about major customers.

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Definitions:

Business Fluctuations

The cyclical increases and decreases in economic activity that an economy experiences over time.

Great Depression

A severe worldwide economic depression that took place during the 1930s, starting in the United States, marked by significant declines in industrial production and employment.

More Severe

Used to describe a situation or condition that is significantly worse or more intense than others.

Gross Domestic Product

The total value of all goods and services produced within a country's borders in a specific time period, used as an indicator of economic health.