PAS 8

PR PROBLEM 1: MULTIPLE CHOICE 1. A change in measurement basis is most likely a c. error d. any of a change in accounting policy. o change in accounting estimate. thes 2 A correction of prior period error is accounted for by c. prospective application d. impracticable applicat a retrospective application b. retrospective restatement. model 3. Which of the following is a change in accounting estimate? a Change from the cost model to the fair value measuring investment property. b. Change in business model for classifying financial as resulting to the reclassification of a financial asset from being measured at amortized cost to fair value. c Change in the method of recognizing revenue from la term construction contracts. d. Change in the depreciation method, useful life or residus value of an item of property, plant and equipment. 4. These result from new information or new developments. a. Changes in accounting estimates b. Changes in accounting policies c Correction of errors d. All of these 5. The effect of which of the following is presented in profit loss in the current period (or current and future periods both are affected) rather than as an adjustment to the openin balance of retained earnings. a Correction of a prior period error. b. Change in accounting policy. Change in accounting estimate. d. All of these