In accordance with AASB 8 an operating segment is a component of an entity:
A) that engages in business activities from which it may earn revenues and incur expenses.
B) whose operating results are regularly reviewed by the entity's chief operating decision maker to make decisions about resources to be allocated to the segment and asses its performance.
C) for which discrete financial information is available.
D) All of the given answers are correct.

Question

Quizplus · Accepted Answer

All of the given answers are correct as AASB 8 defines an operating segment as a component of an entity that satisfies all of the given criteria - engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the entity's chief operating decision maker to make decisions about resources to be allocated to the segment and asses its performance, and for which discrete financial information is available.

In Accordance with AASB 8 an Operating Segment Is a Component