VicEd Is a Government Agency That Controls Science Limited

question 26

Multiple Choice

VicEd is a government agency that controls Science Limited. Science Limited has two subsidiaries: Bio Limited and Chem Limited. To which entities can Bio Limited apply the disclosure exemption in paragraph 25 of AASB 124?

• A) VicEd Limited only;
• B) Science Limited only;
• C) Science Limited and Chem Limited only;
• D) VicEd Limited, Science Limited, and Chem Limited.

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Definitions:

Exponentially Smoothed Values

Values obtained using exponential smoothing, a technique to forecast data by giving more weight to recent observations.

Motor Oil Sales

The commercial activity of selling oil used for lubricating the engines of vehicles.

Exponentially Smoothed Sales

A forecasting technique that applies weighting factors which decrease exponentially over time, used to smooth time series data.

Biodiesel Sales

The volume or number of units of biodiesel fuel sold within a specific time period.