AASB 110 Requires Additional Disclosures in Which of the Following

question 20

Multiple Choice

AASB 110 requires additional disclosures in which of the following situations?

• A) related party transactions that affect the ability of the entity to trade profitably and that occur after reporting date
• B) any event that occurs after the reporting date that would cause the entity to no longer be considered a going concern
• C) any event likely to have a material effect that occurs after the directors have signed the Directors' Declaration
• D) material changes to the dividends proposed for the following period that occurs after reporting date

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Definitions:

Fair Debt Collection

Practices and regulations that ensure the collection of debts is conducted in a humane, respectful, and lawful manner.

Business Debts

Financial obligations incurred in the course of running a business, including loans, leases, and money owed to suppliers.

PM System

A PM System, or Project Management System, is a tool or software designed to assist in organizing, planning, and managing resources and tasks to achieve the objectives of a project efficiently.

Alpha Search

A method of searching or organizing information based on alphabetical order.