Which of the Following Statements Is Incorrect? AASB 8/IFRS 8

question 4

Multiple Choice

Which of the following statements is incorrect? AASB 8/IFRS 8 requires external revenue by product to be disclosed on an entity wide basis by all entities to which AASB 8/IFRS 8 applies:

• A) unless the information has already been provided as part of the reportable segment information.
• B) unless the information is not available and the cost to develop it would be excessive.
• C) and must be calculated based on the financial information used to produce the entity's financial statements.
• D) unless providing such information would be considered to damage the entity's competitive advantage.

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Definitions:

Artesian Well

A well drilled through impermeable strata to reach water capable of rising to the surface under natural pressure.

Confined Aquifer

An aquifer bounded by impermeable layers, where the water is under pressure, allowing it to rise above the level of the aquifer when tapped.

Permeability

A measure of how easily fluids can pass through a rock or sediment, depending on the connectivity of its pores.

Groundwater Flow

Groundwater flow describes the movement of underground water through the soil and rock layers, driven by gravitational forces and pressure differences.