AASB 8 Operating Segments Applies To

question 29

Multiple Choice

AASB 8 Operating Segments applies to:
I. public companies
II. listed entities
III. entities in the process of listing
IV. any entity who voluntarily chooses to apply it

• A) I, II and III only;
• B) II, III and IV only;
• C) I, II and IV only;
• D) I, III and IV only.

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Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the ownership interest of shareholders or partners.

Liabilities

Financial obligations or debts owed by a business to outsiders, such as loans, accounts payable, or mortgages.

Owner's Equity

The total assets minus total liabilities of an individual owner in a business, representing the owner's residual interest in the company.