a. Explain the following measurement bases of the elements of financial statements and indicate how assets and liabilities are measured in each case: i. Historical cost 2 marks ii. Current cost 2 marks iii. Realisable value 2 marks 2 b. Ghana adopted IFRSs wholly in 2007, to replace the Ghana National Accounting Standards. State four (4) benefits that the country is expected to derive from adopting these international standards. 4 marks C. State two (2) main criticisms against the adoption of IFRSs in some countries. 2 marks d. Explain three (3) threats to a professional accountant and suggest two (2) ways each of overcoming those threats. 6 marks