In Which of the Following Contexts Would Accountants Be Required

question 17

Multiple Choice

In which of the following contexts would accountants be required to exercise professional judgement?

• A) Determining depreciation method used for non-current assets.
• B) Estimating net realisable value of inventories.
• C) Deciding which model to use to measure value of property, plant and equipment after initial recognition.
• D) All of the options are correct.

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Definitions:

Linear Perspective

is a technique in drawing and painting that creates the illusion of depth on a flat surface, using converging lines to denote distance.

Occlusion

In healthcare, it refers to the blockage or closing of a blood vessel or organ. In dentistry, it relates to the alignment of the teeth when the jaws are closed.

Vase

A container usually made of glass, ceramic, or metal used for holding cut flowers or as a decorative piece.

Motion Detectors

Devices that detect moving objects, typically used in security systems to alert of intruders, or in automatic lighting systems.