AASB 132 Only Allows Assets and Liabilities to Be Offset

question 9

True/False

AASB 132 only allows assets and liabilities to be offset against one another if a legally recognised right to set-off exists for these items:

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Definitions:

Behaviourism

This is a theory of learning based on the idea that all behaviors are acquired through conditioning, emphasizing external behaviors rather than internal processes.

Internal States

Refers to the mental and emotional conditions or processes within an individual, such as feelings, thoughts, and mood, that are not observable by others.

B. F. Skinner

An American psychologist known for his work in behaviorism and for developing the theory of operant conditioning.

Unobservable States

Refers to internal processes or conditions that cannot be directly observed or measured, such as thoughts, feelings, or intentions.