Which Statement Concerning AASB1053 Is True

Multiple Choice

Which statement concerning AASB1053 is true?

A) All entities would be classified as Tier 1, Tier 2 or Tier 3.
B) It is sometimes referred to as the reduced disclosure requirements standard.
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.