The Term New Technology Refers to

question 49

Multiple Choice

The term new technology refers to

• A) anything invented in the last five years.
• B) an emerging technology that has a significant impact on social life.
• C) 21st century technology.
• D) an established technology that changed the course of history.

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Definitions:

Note Disclosures

Refers to additional information provided in a company's financial statements, which helps in understanding the numbers presented and includes details such as accounting policies and future obligations.

AASB 101

The Australian Accounting Standards Board document specifying the presentation of financial statements, providing guidelines for structure and minimum requirements for their content.

Impairment of Assets

A decrease in the recoverable value of an asset below its carrying amount, leading to an adjustment of its valuation on the balance sheet.

Financial Position

The status of the assets, liabilities, and equity of an entity as detailed in the balance sheet, indicating the entity’s economic resources and obligations at a given time.