AASB 101 Requires the Summary of Accounting Policies Adopted by Reporting

question 59

True/False

AASB 101 requires the summary of accounting policies adopted by reporting entities to be presented in any section of the notes to the financial report.

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Definitions:

Approach-oriented

A behavioral tendency to move towards positive or desirable outcomes or stimuli rather than avoiding negative ones.

Big Five

A framework describing five major aspects of human personality, which include Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism.

Extraversion

A personality trait characterized by sociability, talkativeness, and a high level of engagement with the external world.

Approach Motivation

The driving force that prompts individuals toward positive stimuli or outcomes, as opposed to avoiding negative ones.