Which Statement Concerning AASB1053 Is Correct

Multiple Choice

Which statement concerning AASB1053 is correct?

A) It is also referred to as the reduced disclosure requirements standard.
B) All entities would be classified as Tier 1, Tier 2 or Tier 3.
C) Entities classed as Tier 3 will have their financial disclosure requirements increased.
D) The standard does not apply to not-for-profit private sector entities and most public sector entities.