The AASB Standards 1-99 Series Includes Those Standards

question 60

Multiple Choice

The AASB Standards 1-99 Series includes those standards:

• A) where the standard has been developed for domestic application and relates specifically to the public or not-for-profit sectors.
• B) where a standard equivalent to an existing or improved IAS is issued, with the number being used by the IASB being the same as that being used by the AASB (e.g. IAS 1 will be AASB 1).
• C) where a standard equivalent to an existing or improved IAS is issued, with the number being used by the AASB 100 on from that being used by the IASB(e.g. IAS 1 will be AASB 101).
• D) where a new IFRS has been issued by the IASB, with the number being used by the IASB being the same as that being used by the AASB(e.g. IFRS 1 will be AASB 1).

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Definitions:

Platelet Plug Formation

A critical step in the blood clotting process where platelets aggregate at the site of a blood vessel injury to prevent excessive bleeding.

Vasodilation

The widening of the muscular wall of an artery to decrease blood pressure.

Blood Coagulation

The process by which blood changes from a liquid to a gel, forming a clot to stop bleeding.

Anemia

A condition in which there is an insufficient number of red blood cells or hemoglobin, leading to reduced oxygen transport in the body.