Under AASB 127 Parent Companies May Choose Whether to Present

question 32

True/False

Under AASB 127 parent companies may choose whether to present one set of consolidated accounts or to provide two or more sub-sets of the consolidated accounts to cover the whole group:

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Definitions:

Existential Generalization

A logical operation that infers the existence of at least one member of a group from a statement about an individual or individuals.

Existential Instantiation

A principle in logic and philosophy that allows from the acknowledgment of the existence of at least one instance of a particular predicate.

Universal Instantiation

A logical rule that states if a property or relation holds for all members of a class or domain, then it holds for any specific member of that class or domain.

Universal Instantiation (UI)

A principle in logic stating that what is true of everything in a particular class must also be true of any specific member of that class.