IFRS 8 Requires the Disclosure of Certain Key Information Such

question 4

Multiple Choice

IFRS 8 requires the disclosure of certain key information such as an organization's major customers and geographic areas of operations. Why are these disclosures required?

• A)To demonstrate that the chief operating decision-maker has made prudent decisions
• B)To allow users to assess potential business risks
• C)To provide sufficient information to creditors
• D)To allow users to see that the poor performance of one segment is usually offset by the good performance of other segments

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Definitions:

Proportional Representation

An electoral system in which parties gain seats in proportion to the number of votes cast for them.

Ladies' Association

A historical group or organization formed by women, often focused on social, charitable, or political causes.

Joseph Brant

A prominent Mohawk military and political leader in the 18th century who was closely associated with Great Britain during the American Revolutionary War.

Hessians

German mercenary soldiers hired by the British Crown to fight against the American colonial forces during the Revolutionary War.