How should a change in depreciation method be treated in the financial statements?

Question

Economics · IAS 8 Accounting Policies, Changes in Estimates and Errors

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

As a change in accounting estimate with prospective adjustment

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on IAS 8 Accounting Policies, Changes in Estimates and Errors?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · IAS 8 Accounting Policies, Changes in Estimates and Errors

Mahatma Gandhi's last fast unto death in 1948 was primarily against which of the following?

What was the primary meaning of 'Swaraj' as popularized by Mahatma Gandhi during India's independence movement?

What was one major impact of India’s independence on its economy?

Answer 1

As a revaluation change with prospective adjustment

Answer 2

As a change in accounting estimate with prospective adjustment

Answer 3

As a change in accounting policy with retrospective adjustment

Answer 4

As a prior period error with retrospective adjustment

Related Practice Questions