Which of the Following Statements Is Incorrect

question 6

Multiple Choice

Which of the following statements is incorrect?
AASB 8 requires external revenue by product to be disclosed on an entity wide basis by all entities to which AASB 8 applies:

• A) unless the information has already been provided as part of the reportable segment information;
• B) unless the information is not available and the cost to develop it would be excessive;
• C) and must be calculated based on the financial information used to produce the entity's financial statements;
• D) unless providing such information would be considered to damage the entity's competitive advantage.

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Definitions:

Political Considerations

Factors related to government, policy, or organizational politics that influence decisions and actions.

Cognitive Biases

Tendencies to acquire and process information in an error-prone way.

Capacity To Acquire

The ability to learn or gain new skills, knowledge, or abilities, often considered in the context of individual or organizational growth and development.

Arouse Controversy

To provoke public debate or dispute, often by challenging established norms or opinions.