Under IFRS, Which of the Following Disclosures Is NOT Required

question 46

Multiple Choice

Under IFRS, which of the following disclosures is NOT required for the correction of an accounting error?

• A) the amount of the correction made to each affected financial statement item for each prior period presented
• B) the nature of the error
• C) who was responsible for the error
• D) the effect of the correction on both basic and diluted earnings per share for each prior period presented

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Definitions:

Prosperity

A state of being successful, especially in financial terms, marked by flourishing conditions and/or wealth.

Acceptance Theory

Suggests that the effectiveness of leadership or management depends on the consent and support of followers or workers.

Herzberg's Theory

A motivational theory dividing factors at work into two categories: hygiene factors, which can cause dissatisfaction, and motivators, which can create satisfaction.

Institutional Theory

A theory that emphasizes the role of institutions in shaping the behavior and decisions of individuals and organizations by establishing norms, values, and rules.