Which of the Following Entities Would Be Classified as Tier

question 1

Multiple Choice

Which of the following entities would be classified as Tier 2 under AASB 1053 Application of Tiers of Australian Accounting Standards, and thus be given relief from some reporting requirements?
I. Not-for-profit private sector entities
II. Most public sector entities
III. Small proprietary companies

• A) II and III only
• B) I and II only
• C) I and III only
• D) I, II and III

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Definitions:

Centrosomes

Organelles that serve as the main microtubule organizing centers in animal cells, playing a critical role in cell division.

Crossing-Over

Exchange of segments between non-sister chromatids of a bivalent during meiosis.

Chromatids

One of two identical halves of a duplicated chromosome, joined together by a centromere and separated during cell division.

Genetic Material

The molecules responsible for heredity and variation of organisms, primarily DNA or RNA in viruses.