Under IFRS 8, Certain Reconciliations, Such as Total Reportable Segment

question 21

Multiple Choice

Under IFRS 8, certain reconciliations, such as total reportable segment revenues to the entity's revenues, are required. Why are these reconciliations required?

• A)To prove that the consolidated financial statements balance
• B)To ensure that all reportable segments have been identified
• C)To show the relative contribution of each segment to the total
• D)To show how reportable segments were identified

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Definitions:

Sum of Squares for Regression

A measure in statistical analysis that quantifies the variation in a dependent variable explained by one or more independent variables.

SSR

Sum of Squares due to Regression, a measure used in statistical analysis to determine the variance explained by a linear regression model.

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs.

Income

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.