Which Statement Concerning AASB 1053 Is Untrue

Multiple Choice

Which statement concerning AASB 1053 is untrue?

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