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      Question

      A change in depreciation method is treated

      as:
      A Error correction Correct Answer Incorrect Answer
      B Prior period item Correct Answer Incorrect Answer
      C Change in accounting estimate Correct Answer Incorrect Answer
      D Change in accounting policy Correct Answer Incorrect Answer
      E Extraordinary item Correct Answer Incorrect Answer

      Solution

      As per AS 6/Ind AS 16, change in method is treated as a change in estimate and accounted prospectively.

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