All of the Following Are Exemptions to Retrospective Application in First-Time

question 66

Multiple Choice

All of the following are exemptions to retrospective application in first-time adoption of IFRS except

• A)estimates.
• B)hedge accounting.
• C)non-controlling interest.
• D)deferred taxes.

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Definitions:

Primary Reaction

The immediate response or reflex triggered by a specific stimulus in an organism.

Dangerous Situation

A scenario that poses a risk of harm or injury to individuals or property.

Theoretical Diversity

The existence and application of multiple theories within a field of study to understand and explain phenomena.

Experience of Emotion

The complex, subjective feeling states that arise from cognitive and physiological reactions to stimuli, often associated with mood, temperament, personality, and motivation.