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:

Stereotyping

The act of assigning a set of characteristics to people based on their membership in a particular group, often oversimplifying and having negative connotations.

Perceptual Distortion

The misinterpretation or misperception of a real external stimulus, often influenced by an individual's mental state or preconceptions.

Halo Effects

A cognitive bias where the perception of one positive trait leads to the assumption of other positive traits in an individual or thing.

Frames

Psychological perspectives or reference points that people use to understand and interpret situations, especially in the context of negotiations or decision-making.