It Is not

question 5

Multiple Choice

It is not

• A)AASB 1039 'Concise Financial Reports' has an equivalent international standard
• B)Shareholders who receive a concise report can request a full report
• C)The concise report must comply with the accounting standards
• D)Except for concise reports prepared for listed companies each financial statement must be accompanied by some discussion and analysis.

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Definitions:

Animism

A facet of preoperational thought: the belief that inanimate objects have lifelike qualities and are capable of action.

Centration

A term from developmental psychology, describing the tendency of children in the preoperational stage to focus on one aspect of a situation and ignore others.

Irreversibility

A cognitive limitation in young children's thinking, where they are unable to understand that an action can be done and undone.

Internalized Sets

Concepts, beliefs, or ways of thinking that have been fully absorbed into one's mindset and influence behavior and decision-making.