The AASB has responsibility for making accounting standards applicable to:
A) entities coming under the Corporations Act, entities in the public sector and the remainder of the non-corporate sector entities
B) entities coming under the Corporations Act
C) entities coming under the Corporations Act and entities in the public sector
D) none of the above

Question

Quizplus · Accepted Answer

The Australian Accounting Standards Board (AASB) is responsible for developing, issuing, and maintaining accounting standards applicable to entities under the Corporations Act, entities in the public sector, and the remainder of the non-corporate sector entities. This broad responsibility ensures consistency and transparency across a wide range of entities in Australia's financial reporting landscape.

The AASB Has Responsibility for Making Accounting Standards Applicable To