Multiple Choice
Why does IASB prohibit retrospective treatment of changes in accounting estimates?
A) The IASB view changes in estimates as normal recurring corrections and adjustments, which are the natural result of the accounting process.
B) The IASB does not allow the retrospective treatment for any type of presentation.
C) The IASB prohibits retrospective treatment of changes in accounting estimates because IFRS requires it.
D) IASB does not prohibit retrospective treatment of changes in accounting estimates, but is silent on this issue
Correct Answer:
Verified
Correct Answer:
Verified
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