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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
Which of the following is not an objective of IAS 8?
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Question 2 of 10
2. Question
Which of the following does IAS 8 stipulate?
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Question 3 of 10
3. Question
IAS 8 __________ disclosure of an impending change in accounting policy when an entity has yet to implement a new IFRS that has been issued but not yet come into effect.
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Question 4 of 10
4. Question
IAS 8 requires those disclosures of the amounts of adjustments resulting from changing accounting policies or correcting prior period errors, to be made for each financial statement line item affected and, if IAS 33 Earnings per Share applies to the entity, for basic and diluted earnings per share.
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Question 5 of 10
5. Question
IAS 8 contains disclosure requirements for accounting policies, including those for changes in accounting policies.
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Question 6 of 10
6. Question
Under which of the following circumstance is IAS 8 applicable?
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Question 7 of 10
7. Question
Retrospective application is applying a new accounting policy to transactions, other events and conditions __________.
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Question 8 of 10
8. Question
Under which of the following circumstances is the application of a change in an accounting policy impracticable?
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Question 9 of 10
9. Question
Which of the following terms agrees with this definition: ‘correcting the recognition, measurement and disclosure of amounts of elements of financial statements as if a prior period error had never occurred’?
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Question 10 of 10
10. Question
It is __________ to make, or leave uncorrected, immaterial departures from IFRSs to achieve a particular presentation of an entity’s financial position, financial performance or cash flows.
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