CAF-6 · Chapter 6 · Question 2 of 15
What is meant by the 'Chief Operating Decision Maker' (CODM) in IFRS 8?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) It is a function that allocates resources and assesses performance of operating segments.
Explanation
CODM is a function, not necessarily an individual. It refers to the person or group responsible for allocating resources and assessing the performance of the operating segments.
More IFRS 8 Operating Segments MCQs
- Q4In addition to the revenue test, a segment is reportable if the absolute amount of its reported profit or loss is 10% or more of the…
- Q5If the total external revenue reported by reportable segments constitutes less than what percentage of the entity's total revenue…
- Q6Two or more operating segments may be aggregated into a single operating segment if they have similar economic characteristics and are…
- Q7Which of the following must be disclosed for each reportable segment under IFRS 8?
- Q8An entity must disclose information about 'Major Customers' if revenues from transactions with a single external customer amount to what…