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

Question

Quizplus · Accepted Answer

IFRS 8 requires external revenue by product to be disclosed on an entity wide basis by all entities to which IFRS 8 applies unless providing such information would be considered to damage the entity's competitive advantage. Therefore, statement D is incorrect. Statements A, B, and C are correct.

Which of the Following Statements Is Incorrect? IFRS 8 Requires