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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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