It Is Important That Disclosure Be Made of the Accounting

question 19

Multiple Choice

It is important that disclosure be made of the accounting policies adopted in preparing a financial report:

• A)because they have to be disclosed under AASB 108
• B)because they can have a significant effect on the items recognised, how they are measured and the disclosure made about them
• C)only to the extent that they are material in understanding the financial report
• D)even if they are not material, they are necessary to explain the events and transactions of the entity

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Definitions:

Semen

The male reproductive fluid containing spermatozoa, used for reproduction.

Chlamydia

A common sexually transmitted infection caused by the bacterium Chlamydia trachomatis, which can cause serious reproductive and other health problems with long-term consequences.

Sterilization

A process that eliminates or kills all forms of microbial life, including spores, from an object or area.

Pouchlike Structure

A term describing any anatomical feature or part that resembles a small bag or pocket, often found in organs or tissues.