Compared to AASB 114 Segment Reporting, AASB 8 Operating Segments can be described as being:
A) more closely aligned to other accounting standards;
B) preferred in the European Union to its predecessor;
C) less prescriptive;
D) less onerous in terms of disclosure.

Question

Quizplus · Accepted Answer

AASB 8 is less prescriptive than AASB 114 in terms of segment reporting, giving more flexibility to companies when determining and reporting their operating segments.