Under IFRS, There Is No Classification for

question 140

Multiple Choice

Under IFRS, there is no classification for

• A)changes in accounting estimates.
• B)changes in accounting principles.
• C)discontinued operations.
• D)extraordinary items.

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Definitions:

Purchasing Power

The worth of currency represented by the quantity of goods or services that can be purchased with a single unit of money.

Price Support Program

Government interventions to maintain the market price of a commodity at a certain level to benefit producers.

Wheat Farmers

Individuals or entities engaged in the cultivation and production of wheat as a crop.

Government

The organized system of institutions, laws, and officials that establish and administer public policies and functions within a society.