It Is Proposed That How Many of the Following Entities

question 3

Multiple Choice

It is proposed that how many of the following entities would be classed as belonging to Tier 2 under AASB 1053 Application of Tiers of Australian Accounting Standards, and thus be given relief from some reporting requirements?
Not-for-profit private sector entities
Most public sector entities
Small proprietary companies

• A) 0
• B) 1
• C) 2
• D) 3

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Definitions:

Latent

Existing but not yet developed or manifest; hidden or dormant potential that may emerge under certain conditions.

Technological Advancements

The process of innovation and development in technology, leading to new products, services, or ways of doing things.

Internal Resources

Assets, capabilities, and systems within a company that can be leveraged to achieve business objectives.

Political Environment

Refers to the government actions, policies, and political stability of a country that can affect its business operations and markets.