Under AASB 8 We Must Always Report the Amount of Segment

question 1

True/False

Under AASB 8 we must always report the amount of segment net assets - the difference between segment assets and segment liabilities

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Definitions:

Manufacturing Company

A type of business that produces finished goods from raw materials through the use of labor and machinery.

Cost of Goods Sold

Cost of Goods Sold (COGS) represents the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor used to create the product.

Cost of Goods Manufactured

The total cost associated with producing goods, including materials, labor, and overhead, within a certain period.

Manufacturing Overhead

Indirect factory-related costs that are incurred when a product is manufactured, excluding direct materials and direct labor.