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2020 MST Question 3 Measurement 15 marks Required i) Apart from mistakes made by the...

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2020 MST Question 3 Measurement 15 marks Required i) Apart from mistakes made by the measurer, briefly outline two other sources of error in measurement, using relevant accounting examples (4 marks]. ii) For each error in (i) above, suggest how it could be avoided or mitigated, using relevant examples [4 marks]. iii) IFRS 13 provides a hierarchy for fair value measurement. Distinguish between Level 1 and Level 2, using relevant examples [7 marks]

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