Accounting Standards
Quick practice
Question 1 of 5
The Accountant of G Limited has sought your opinion on how the following transaction will be treated for the year ended 31st March 2020. Please advise him.
- During the year ended 31st March 2020, the management has introduced a formal gratuity scheme in place of ad-hoc ex-gratia payments to employees on retirement.
A
None of the above.
B
Change in accounting policy
C
Change in accounting estimate,
D
Introduction of the new policy.
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