A Disclosing Entity Includes

question 34

Multiple Choice

A disclosing entity includes:

• A) a company that is not a reporting entity.
• B) an entity which has its shares listed on the ASX.
• C) an entity which issues its shares only to the company directors.
• D) a small proprietary company.

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Definitions:

Subsidiary Ledger

A subsidiary ledger is a detailed ledger containing individual accounts with a common characteristic, which is summarized and presented in a single account in the general ledger.

Control Account

A summary account in the general ledger that consolidates and reflects the total amount of transactions recorded in subsidiary ledgers for easier oversight and reconciliation.

Invoice Price

The initial quoted price on an invoice prior to deductions such as discounts, allowances, or rebates.