The Concept That Underpins Consolidations Is

question 14

Multiple Choice

The concept that underpins consolidations is:

• A)The entity concept, as explained in the Corporations Act
• B)The parent entity concept, as explicitly mentioned in AASB 127
• C)The entity concept, as implied by the functioning of AASB 127 and explicitly mentioned in predecessor standards.
• D)The proprietary concept, as explicitly described in AASB 3 and AASB 127.

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Definitions:

Transformation

The process of changing something from one form or state to another, often seen in context with business, personal development, or technology.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find employment.

Movement

In economic terms, it often refers to a change in price or quantity in response to market forces on a graph.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing among options.