Which Statement Concerning AASB 1053 Application of Tiers of Australian

question 6

Multiple Choice

Which statement concerning AASB 1053 Application of Tiers of Australian Accounting Standards is not true?

• A) Entities classed as Tier 1 will have their financial disclosure requirements increased.
• B) Entities classed as Tier 2 will have their financial disclosure requirements in relation to the accounting standards reduced.
• C) The reporting burden on the majority of disclosing Australian entities is reduced.
• D) In effect only publicly accountable entities will be required to report using full Australian accounting standards.

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Definitions:

Fixed-Ratio Schedule

A schedule of reinforcement where a response is rewarded only after a specified number of responses have been made.

Negative Reinforcement

A process in behavioral psychology where the removal of an undesirable or unpleasant stimulus following a desired behavior increases the likelihood of that behavior being repeated.

Conditioning

A learning process that involves developing associations between events or behaviors and consequential outcomes, such as rewards or punishments.

Cognitive Processes

Mental processes such as thinking, knowing, problem solving, remembering, and forming mental representations.