Which Statement Concerning AASB 1053 Application of Tiers of Australian

Multiple Choice

Which statement concerning AASB 1053 Application of Tiers of Australian Accounting Standards is not true?

A) Entities classed as Tier 1 will have their financial disclosure requirements increased.
B) Entities classed as Tier 2 will have their financial disclosure requirements in relation to the accounting standards reduced.
C) The reporting burden on the majority of disclosing Australian entities is reduced.
D) In effect only publicly accountable entities will be required to report using full Australian accounting standards.