Which of the Following Is an Incorrect Statement with Reference

question 193

Multiple Choice

Which of the following is an incorrect statement with reference to the International Financial Reporting Standards (IFRS) ?

• A) Accounting policy changes are limited to those providing more relevant and reliable information.
• B) Earnings per share information must be presented on the income statement.
• C) The statement of retained earnings is not required.
• D) To correct an error, financial information must be restated retroactively.

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Definitions:

Basilar Membrane

A structure in the cochlea of the inner ear that plays a key role in the sense of hearing by vibrating in response to sound.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, responsible for most of the eye's focusing power.

Pupil

The opening in the center of the iris of the eye that regulates the amount of light that enters the eye.

Light Waves

Electromagnetic waves within a certain portion of the electromagnetic spectrum, perceived by the human eye as light.