Which of the Following Is Not Correct Regarding the Provisions

question 21

Multiple Choice

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

• A) IAS No.8 requires that results from prior periods be presented for all changes in accounting principles.
• B) IAS No.8 allows a change in accounting principle to be accounted for by reflecting the cumulative effect of the change in the income of the current period without restating prior-period results.
• C) Under IAS No.8,the recommended approach for a change in accounting principle is that results from prior periods should be restated.
• D) IAS No.8 requires a change in accounting estimate to be reflected in the current and future periods.

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Definitions:

Alcohol Exposure

The extent to which an individual comes into contact with alcohol, affecting their physiological and psychological state.

Alcoholism

Alcoholism, also known as alcohol use disorder, is a condition characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences.

Positive Linear

Refers to a direct relationship where as one variable increases, the other variable also increases at a constant rate.

Operational Definition

A clear, precise definition of a variable that specifies how it will be measured or manipulated in a study.