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- IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors 0%
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Question 1 of 10
1. Question
What shall management consider first in order to exercise its judgement in the absence of an IFRS that specifically applies to a transaction, other event or condition?
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Question 2 of 10
2. Question
An entity shall change an accounting policy only if the change is required by an IFRS.
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Question 3 of 10
3. Question
Which of the following is not a change to accounting policy?
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Question 4 of 10
4. Question
When an entity changes an accounting policy upon initial application of an IFRS that does not include specific transitional provisions applying to that change, or changes an accounting policy voluntarily, it shall apply the change __________.
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Question 5 of 10
5. Question
An entity may account for a change in accounting policy according to how it feels it would be best adopted for the users of its financial statements.
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Question 6 of 10
6. Question
Which of the following is unlikely be an estimate?
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Question 7 of 10
7. Question
Which of the following statements about estimates agrees with IAS 8?
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Question 8 of 10
8. Question
Which of the following statements is not true?
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Question 9 of 10
9. Question
A change in the measurement basis applied __________.
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Question 10 of 10
10. Question
When it is difficult to distinguish a change in an accounting policy from a change in an accounting estimate, the change is treated as a change in an accounting estimate.
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