Which of the Following Statements Is Incorrect According to AASB

question 22

Multiple Choice

Which of the following statements is incorrect according to AASB 12?

• A) Information that enables users of consolidated financial statements to evaluate the consequences of losing control of a subsidiary must be disclosed.
• B) Where a subsidiary's financial statements are dated differently from that of its parent, the group only needs to disclose the date used by the subsidiary.
• C) An entity needs to disclose significant judgements and assumptions it has made where it controls another entity but holds less than half of voting rights of the other entity.
• D) Any risks associated with an entity's interests in other entities must be disclosed.

Acquire knowledge on the functionality and syntax of C functions and their arguments.

Understand the concept of agency authority and the distinctions between actual, apparent, and ratified authority.

Identify circumstances under which an agent is personally liable for contracts and torts.

Understand the doctrine of respondeat superior and its application to employer liability.

---

Definitions:

Enzyme Function

The role enzymes play in accelerating chemical reactions in biological systems without being consumed in the process.

Lock-and-key Model

A model explaining enzyme specificity, where the enzyme's active site (lock) perfectly fits the substrate (key), facilitating the chemical reaction.

Energy Of Activation

The minimum energy that must be supplied to reactants to initiate a chemical reaction.

Amino Acids

Organic compounds that serve as the building blocks for proteins, containing both amine and carboxyl functional groups.