Which of the Following Statements Is Correct

question 4

Multiple Choice

Which of the following statements is correct?
Leaning Objective 21.4 Briefly compare IFRS 8 with its predecessor standard IAS 14.

• A) IFRS 8 requires additional disclosures about any reliance on major customers.
• B) IFRS 8 requires an entity to identify primary and secondary segments.
• C) IFRS 8 requires that the majority of a segment's revenue be from external sources in order for it to be identified as a reportable segment.
• D) IFRS 8 requires that the amount of each segment item reported be the measure determined in accordance with the entity's IFRS accounting policies.

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Definitions:

Normal Spoilage

The expected or inevitable waste and inefficiency in production processes that is considered acceptable.

Ideal Standard

A benchmark for optimal efficiency under perfect operating conditions, used in variance analysis to set performance goals.

Ideal Level

A term that can refer to the optimal state or condition for a specific metric or operation within a business or system, aiming for efficiency and effectiveness.

Normal Level

A baseline or standard level of activity, production, or operation, considered typical or expected under normal circumstances.