alleryStart learning →Different policies for similar items are allowed only where an Ind AS permits what?
Aoffsetting
Baggregation
Ccategorisation
Ddiscounting
Answer & Solution
Correct answer: C. categorisation
Consistency is required unless an Ind AS requires or permits categorising items that suit different policies.
Keep practising Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
Browse all Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors questions for CA Final, or explore more Financialreporting topics.
Related questions
Ind AS 8 uses the term balance sheet instead of which IAS 8 term?Where Ind AS 33 applies, a prior period error correction is disclosed per line item and foDisclosure on correcting a prior period error must include:Retrospective application is impracticable for a prior period if its effects are:While correcting a sick leave liability of a prior year, a severe flu season in the next yApplying a new policy to a prior period must not use what, in assuming past management intRs 50,000 is due, Rs 30,000 provided. Now only Rs 10,000 is recoverable. Extra charge thisEquipment bought at Rs 6,00,000 had 6 years of life, no scrap. After 2 years, 8 years rema