AASB 8 requires that:
A) Reportable segments must individually constitute less than 75 per cent of the entity's total revenues.
B) The total revenues attributable to the reportable segments must be equal to or greater than 75 per cent of the entity's total revenues.
C) The total external revenues attributable to reportable segments must equal at least 75 per cent of the entity's total revenues.
D) The sum of the individual reportable segment's profits or losses must be equal to or greater than 75 per cent of the entity's absolute amount of profit or loss.
E) None of the given answers.

Question

Quizplus · Accepted Answer

AASB 8 requires that the total external revenues attributable to reportable segments must equal at least 75% of the entity's total revenues. This means that the entity is required to report on segments that collectively account for a significant portion of the entity's activities, and that the scope of those segments should be determined based on external revenue information. Therefore, option C is the correct answer.

AASB 8 Requires That