Which Statement Concerning AASB1053 Is Correct

question 60

Multiple Choice

Which statement concerning AASB1053 is correct?

• A) It is also referred to as the reduced disclosure requirements standard.
• B) All entities would be classified as Tier 1, Tier 2 or Tier 3.
• C) Entities classed as Tier 3 will have their financial disclosure requirements increased.
• D) The standard does not apply to not-for-profit private sector entities and most public sector entities.