An Entity Defined as a 'Disclosing Entity' Under the Corporations

question 23

Multiple Choice

An entity defined as a 'disclosing entity' under the Corporations Act must prepare interim financial reports. The content of an interim financial report, under IAS 34/ AASB 134, must include, as a minimum:

• A) a condensed statement of financial position, a condensed statement of comprehensive income and selected notes.
• B) a condensed statement of financial position, a condensed statement of profit or loss and other comprehensive income, and a condensed statement of changes in equity.
• C) a condensed statement of financial position, a condensed statement of profit or loss and other comprehensive income, a condensed statement of changes in equity, a condensed statement of cash flows and selected notes.
• D) a condensed statement of financial position, a condensed statement of profit or loss, a condensed statement of cash flows and selected notes.

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Definitions:

Average

A statistical measure that determines the central tendency of a set of numbers by dividing the sum of all numbers by the count of the numbers.

Outliers

Those scores in a distribution that are noticeably much more extreme than the majority of scores. Whether a score is an outlier or not is usually an arbitrary decision made by the researcher.

Percentile

A measure indicating the value below which a given percentage of observations in a group of observations falls.

Very High

A term often used in statistics and research to describe data points or values that are significantly above the average or expected range.