Which of the Following Is Not Correct Regarding the Provisions

question 70

Multiple Choice

Which of the following is not correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?

• A) A change in accounting estimate is reflected in the current and future periods.
• B) A change in depreciation method (such as from an accelerated method to the straight-line method) is classified as a change in estimate.
• C) A change in depreciation method (such as from accelerated method to the straight-line method) is classified as a change in accounting principle.
• D) IFRS No. 8 generally reflects a preference for restating prior results to improve comparability of financial statements.

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Definitions:

Voluntary Behavior

Actions taken by an individual out of free will or choice, rather than being coerced or obligated.

Motivation

The internal and external influences that motivate individuals to perform actions aimed at reaching an objective.

Personality

The combination of characteristics or qualities that form an individual's distinctive character.

Collectivism

A cultural value that prioritizes group goals over individual ones, emphasizing community, solidarity, and interdependence.