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?
$\bullet$Not-for-profit private sector entities
$\bullet$Most public sector entities
$\bullet$Small proprietary companies
A) 0
B) 1
C) 2
D) 3

Question

Quizplus · Accepted Answer

Under AASB 1053 Application of Tiers of Australian Accounting Standards, all three entities listed - not-for-profit private sector entities, most public sector entities, and small proprietary companies - can be classified as belonging to Tier 2. This classification provides them with relief from certain full reporting requirements, aiming to reduce the financial reporting burden on these smaller or less economically significant entities.

It Is Proposed That How Many of the Following Entities ∙\bullet∙

It Is Proposed That How Many of the Following Entities $\bullet$