Which of the Following Statements Is Incorrect? IFRS 8 Requires

question 16

Multiple Choice

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

Normal Distribution

Exhibiting symmetry around the mean, this probability distribution reveals that there are more occurrences close to the mean than far away from it.

Chi-squared Distribution

A statistical distribution that is used to describe the distribution of a sum of squared random variables, often used in hypothesis testing.

Degrees of Freedom

The number of independent pieces of information used in the calculation of a statistic, typically the size of the data set minus the number of parameters estimated.

Area

The measurement of the extent of a two-dimensional surface or shape, typically expressed in square units.