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:

Transcription

The process of copying a segment of DNA into RNA.

RNA Polymerases

Enzymes that synthesize RNA molecules from a DNA template during the process of transcription, key to gene expression.

Translation

The biological process of synthesizing proteins from messenger RNA sequences in the ribosomes.

tRNA Triplet

A trio of nucleotides in transfer RNA that matches a complementary codon in messenger RNA during the formation of proteins.