Under AASB 8, Entities Are Required to Provide Reconciliations on the Followings

question 5

Multiple Choice

Under AASB 8, entities are required to provide reconciliations on the followings, except for:

• A) the total of the reportable segment's measures of profit and loss to the entity's profit or loss;
• B) the total of the reportable segment's equity to the entity's equity;
• C) the total of the reportable segment's revenue to the entity's revenue;
• D) the total of the reportable segment's liabilities to the entity's liabilities;

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Definitions:

JIT Suppliers

Suppliers that adhere to Just-In-Time manufacturing principles, delivering materials and components exactly when needed, minimizing inventory costs.

Holding Cost

The cost associated with keeping inventory in storage, including expenses such as warehousing, insurance, and spoilage.

Product Storage

The act of keeping goods or materials in a designated space until they are needed for usage or sale.

Waste

Unwanted or unusable materials, substances, or by-products produced through human activity or industrial processes.